Abstracts - faqs.org

Abstracts

News, opinion and commentary

Search abstracts:
Abstracts » News, opinion and commentary

CGU to buy insurer GAN

Article Abstract:

Property and casualty insurance company CGU Group Canada Ltd has announced a deal to acquire GAN Company of Canada for C$139.5 million. CGU Canada will pay around 1.3 times the book value of GAN, which was C$106.4 million at the end of 1998. CGU Canada said that it will restucture GAN Canada's operations, pricing and labor force, and use the more than C$150-million in tax losses that will come with the acquisition to make the company a profitable operation.

Author: Partridge, John
Publisher: Bell Globemedia Interactive
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
Acquisitions & mergers, Property & Liability Insurance, Direct Property and Casualty Insurance Carriers, Property and casualty insurance, GAN Company of Canada

User Contributions:

Comment about this article or add new information about this topic:

CAPTCHA


Sun Life aims to sell reinsurer by year-end

Article Abstract:

Sun Life Assurance Company of Canada, based in Toronto, Ontario, is looking to divest its underperforming reinsurance business by the end of 1999. The sale is in line with Sun Life's goal of concentrating on its core insurance and wealth management operations, wherein it sees the biggest opportunity. The reinsurance business incurred a loss of C$78 million on revenue of C$750 million in 1998.

Author: Partridge, John
Publisher: Bell Globemedia Interactive
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
Direct Life Insurance Carriers, Life Insurance, Sun Life Assurance Company of Canada

User Contributions:

Comment about this article or add new information about this topic:

CAPTCHA



Subjects list: Canada
Similar abstracts:
  • Abstracts: Mutual Life hopes to hasten amalgamation. Going public to cost Manulife 'several hundred million dollars.'
  • Abstracts: Mutual Life IPO to proceed despite market volatility. Clarica closes successful $4951-million IPO on TSE. Clarica Life is now a Mutual affair
  • Abstracts: National semiconductor halts Cyrix PC chip production. Corel bucks Microsoft trend
  • Abstracts: Detroit gears up on its German. Balancing '99 auto bargains
  • Abstracts: Wave of interest in Internet buoys K-Tel. WWF debut scores, but investors may get pinned. Cendant to settle lawsuit for $2.8B
This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.
Some parts © 2025 Advameg, Inc.