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Paul Revere may broaden line after Provident Deal.(Paul Revere Life)
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Provident Life and Accident's $1.2 billion acquisition of Paul Revere Life Insurance Co will likely pave the way for a product expansion by the latter. Now known primarily for disability insurance, Paul Revere could enter the individual life insurance segment following the consolidation. Paul Revere's smaller business in dental, life, and annuities might also expand. The acquisition date has been put off in order to study the target company's reserves.
Paul Revere Life could have a ...
Related newspaper, magazine, and journal articles from HighBeam Research
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Provident's $1.2 billion Paul Revere deal delayed.(proposed acquisition of Paul Revere Life Insurance Co. by Provident Corp.)
National Underwriter Life & Health-Financial Services Edition
; ... included in the joint proxy statement which both companies will submit to their shareholders for approval. Investors greeted the news with some trepidation--shares of Paul Revere were down $2 to $26.75 on the announcement--but an analyst said the deal still makes ...
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Merger of Provident, Revere creates indiv. DI behemoth.(Paul Revere Corp., individual disability insurance)
National Underwriter Life & Health-Financial Services Edition
; With Provident Companies set to acquire Paul Revere Corp., the competitive and concentrated disability market will become even more focused and the combined insurance operations should wield additional clout, said analysts. When you combine the two, you've got a force that controls 35 percent of
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Provident sued by terminated Paul Revere career agents.
National Underwriter Life & Health-Financial Services Edition
; A class-action lawsuit has been filed on behalf of several hundred Paul Revere agents who allege they were unfairly dismissed when the company was acquired by Provident Cos. in April 1996. Filed in the Superior Court of Massachusetts in Worcester last month, the suit alleges that the termination of
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Textron Jettisons Paul Revere Insurance Unit.(Originated from Providence Journal-bulletin, R.I.)
Knight Ridder/Tribune Business News
; PROVIDENCE, R.IApr. 30--Textron yesterday said it is selling its Paul Revere insurance company to Provident Companies for $975 million. Textron, which owns 83 percent of the Worcester, Mass., insurance company, will be paid $750 million in cash and $225 million in Provident stock. Public
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$100 million capital infusion seen from Paul Revere IPO. (initial public offering)
National Underwriter Life & Health-Financial Services Edition
; An initial public offering of nine million shares of Paul Revere Corp. at a suggested price of $25 per share is expected to boost the insurer's capital by about $100 million. Paul Revere will not receive any of the proceeds of the sale of the shares, according to Providence, R.I.-based Textron
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