Dutch parent puts Seaboard on block

Article Abstract:

Eureko BV is selling Seaboard Life Insurance Co. of Vancouver, BC. Seaboard has assets of more than C$1-billion and an annual premium revenue of around C$185-million. The insurance company has several profitable niche markets, but they are not big enough to make the company grow. Instead of its own sales agents, the company sells through brokerage network. Among the interested buyers in Seaboard is Empire Life Insurance Co. of Kingston, Ontario. Although Empire's president, Chris McElvaine, confirmed that the company is looking for acquisitions, he would not comment on the Seaboard deal.

Comment:

Will be sold by parent company, Eureko

Asset sales & divestitures, Eureko BV, Seaboard Life Insurance Co.

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Mutual Life plans to distribute all stock to eligible policy holders

Article Abstract:

Mutual Life Assurance Co. of Canada Chief Executive Officer Robert Astley revealed that the firm intends to distribute all company stock to eligible policy holders when it goes public. Speaking to an audience at the Empire club in Toronto, Canada, Astley said that none of the Mutual Life executives will not benefit from rewards, such as free shares and stock option plans, when the firm will go to public. Instead, Mutual Life intends to give all stock to eligible shareholders of the firm. Mutual Life is one of the four Toronto-based firms that are about to go public.

Comment:

Intends to distribute all company stock to eligible policy holders when it goes to public

Financial management, Mutual Life Assurance Co.

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