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Written by U.S. Insurance News
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Monday, 14 July 2003 |
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Fidelity National Financial, Inc., a Fortune 500 provider of real estate and financial services and Fidelity National Information Solutions, Inc. announced on July 11 the terms of the merger agreement whereby FNF will acquire all of the outstanding stock of FNIS. Fidelity National Financial currently owns approximately 66 percent of the outstanding stock of FNIS. |
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Written by U.S. Insurance News
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Sunday, 13 July 2003 |
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AFLAC comes in at 120 among U.S. companies in BusinessWeek magazine's Global 1000 listing of the "world's most valuable companies." The listing appears in the magazine's July 14 issue. This is the fifth year in a row that AFLAC has been on the list, last year AFLAC was ranked 131.
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Written by U.S. Insurance News
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Sunday, 06 July 2003 |
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First American Title Insurance Company, one of the nation's largest title insurers and a member of the First American Corporation family of companies, announced on June 30 the acquisition of Midstate Title Company of Okemos, Mich., for an unspecified amount. The acquisition, completed May 31, 2003, adds Midstate Title's operations and personnel to The Talon Group, First American's new title division formed in February 2003. "The Talon Group was created to increase market share and expand our overall profitability in key markets," said Gary L. Kermott, president of First American Title Insurance Company. "Acquiring Midstate Title gives Talon significant traction in Michigan and is in line with our overall plan to increase our operational presence in the Midwest." |
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Written by U.S. Insurance News
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Sunday, 06 July 2003 |
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EMC National Life Company, a new corporation built on the foundation of Employers Modern Life Company and National Travelers Life Company officially began operations July 1, 2003. "As a result of this merger, the new organization is a much larger company, enabling us to compete better through increased resources and greater financial strength," said Bruce G. Kelley, chairman and chief executive officer of EMC National Life. "By unifying these two strong companies, our independent agents have the opportunity to increase their production and revenue, and policyholders can count on the company's financial stability and security." |
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Written by U.S. Insurance News
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Monday, 30 June 2003 |
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Life insurers' profit margins, already severely strained thanks to lower investment returns, are now being squeezed further by the growing life settlement industry, according to a new study. The Conning Research study, "Life Settlements: Additional Pressure on Life Profits," finds the face amount of insurance in life settlements — transfers of existing life policies when the insured has an impaired life expectancy — are substantially higher than current estimates, and the study estimates a very substantial growth rate as well. |
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