Royal Insurance unit enters P&C market

Article Abstract:

RBC Insurance Holdings Inc., the general insurance unit of Royal Bank of Canada, has started signing up customers for its car and home insurance business. To promote the new offering, RBC Insurance mailed a letter to customers of Royal Bank, offering those who respond and provide their insurance renewal dates by Dec. 15, 1998, to participate in a draw for a new 1998 Volkswagen Beetle car, valued at $22,000. RBC's entry into the home and car insurance market is expected to put pressure on independent brokers, who have dominated the business for years.

Comment:

Starts signing up customers for its car and home insurance business

Canada, Services introduction, Property & Liability Insurance, Direct Property and Casualty Insurance Carriers, Property and casualty insurance, RBC Insurance Holdings Inc.

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Magna's split leaves analysts divided

Article Abstract:

Magna International Inc. of Aurora, Ontario, plans to divide the company into two publicly traded operations. According to the company's board, shareholders will be given stock in the auto parts company and another for the real estate and non-automotive operations. Analysts, however, doubt whether such a move would make any difference as to how the company is being operated. According to analysts, the company still has a lot to do before it could present its proposal to shareholders during its annual meeting in December 1998.

Comment:

Plans to divide the company into two publicly traded operations

Diversified Companies, Strategy & planning, Ontario, Magna International Inc.

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