Northwestern Mutual's deal to purchase Frank Russell gives it more wares to sell
Article Abstract:
Frank Russell Co., one of the largest pension consultants for top-tier US companies, will be acquired by Northwestern Mutual Life Insurance Co. Industry analysts have said that Northwestern Mutual paid $1 billion for Frank Russell, with $900 million paid upfront and the remainder to be paid in subsequent years. The deal will allow Northwestern Mutual to expand from its traditional base of life insurance sales into the sale of mutual funds handled by Frank Russell, which manages over $16 billion in individual's mutual fund investments and about $26 billion in institutional investments.
Comment:
Will acquire Frank Russell Co. for a reported value of $1 billion
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Hartford Life buys $4 billion block of life insurance assets from MBL
Article Abstract:
Hartford Life Inc. purchased a $4 billion block of corporate owned life insurance assets from the former Mutual Benefits Life Insurance Co. that was seized by regulators seven years ago. Hartford also acquired from Mutual Benefit 40% of International Corporate Marketing Group. The insurance company now owns 100% of International Marketing Group. Hartford said it bought the two businesses for less than $70 million. It expects the life insurance business to earn a couple hundred million dollars of revenue for a few years. Mutual Benefits is now known as MBL Life Assurance Corp.
Comment:
Hartford Life buys $4 billion block of life insurance assets from MBL
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Swiss Reinsurance to buy Life Re for $1.8 billion
Article Abstract:
Life Re Corp. of Stamford, Conn. will be acquired by Swiss Reinsurance Corp. for $1.8 billion in a further consolidation of the global reinsurance industry. The deal, which has been structured as a merger, is still subject to approval by government regulators. Life Re, along with other smaller reinsurance US companies, have been seeking capital-rich reinsurance firms to expand global reinsurance business. Swiss Reinsurance, the second largest reinsurance company in the world, had a $1.5 billion profit in 1997.
Comment:
will acquire Life Re Corp. of Stamford, Conn. for $1.8 billion
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Comment about this article or add new information about this topic:
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