Canada Life, Crown strike deal
Article Abstract:
Canada Life of Toronto is acquiring Regina, Saskatchewan-based Crown Life Insurance Co.'s individual and group insurance operations in Canada as well as its non-Canadian reinsurance business and its international operations in Hong Kong, the Bahamas and elsewhere for around C$5 billion. In effect, Crown Life will hold assets worth C$1.5 billion that are mostly in real estate, which it will continue to manage. Canada Life also said that it will substantially reinsure and administer Crown Life's US insurance business. Canada Life provides life and health insurance and investment products with offices in the US, Ireland and Great Britain, while Crown Life offers life and health insurance and pension programs with offices in the US, the Caribbean, Macau and Hong Kong.
Comment:
Will acquire Regina, Canada-based Crown Life Insurance Co.'s individual and group insurance operations for around C$5 bil
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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BAT's Imasco Bid likely not enough
Article Abstract:
British American Tobacco PLC (BAT) has offered to acquire the 58% of Imasco Ltd it does not already own for a minimum of C$40 per share in cash or C$10.3 billion. BAT said that it intends to keep Imperial Tobacco Ltd and sell the other businesses. BAT has already signed a deal to sell CT Financial Services Inc to Toronto-Dominion Bank, and is selling Shoppers Drug Mart Ltd and Genstar Development Co which have an estimated combined value of C$2.5 billion.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
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