Advertisement
 
YOU ARE HERE: LAT HomeCollectionsCasualty Insurance
IN THE NEWS

Casualty Insurance

BUSINESS
July 21, 1992 | PATRICE APODACA, TIMES STAFF WRITER
Transamerica Corp., the life insurance and financial services giant, announced plans Monday to sell or spin off its troubled Woodland Hills-based property and casualty insurance unit in order to focus on its finance and life insurance businesses. The subsidiary, Transamerica Insurance Group, could fetch in excess of $800 million, analysts said. Any buyer is likely to downsize the subsidiary, which has 4,400 workers at 65 offices nationwide, they added.
Advertisement
NEWS
February 7, 1992 | CARL INGRAM, TIMES STAFF WRITER
A Democratic-dominated legislative committee Thursday turned up the pressure on Gov. Pete Wilson to again overrule one of his appointees and clear the path for Californians to receive $2.5 billion in long-delayed Proposition 103 insurance rebates. Over GOP opposition, the Senate Insurance Committee urged the Republican governor to order the implementation of rebate and rate-setting rules even though they have been scuttled by Marz Garcia, Wilson's director of the Office of Administrative Law.
BUSINESS
October 22, 1991 | NANCY RIVERA BROOKS and DONNA K. H. WALTERS, TIMES STAFF WRITERS
The fire that seared the hills of Oakland and Berkeley could easily surpass the $265 million in insured losses from last year's Santa Barbara inferno and probably will help turn 1991 into the second worst year for natural disasters that the insurance industry has ever seen, officials said Monday.
NEWS
February 6, 1991 | From Times Staff and Wire Reports
Guerrillas opposed to the U.S. role in the Persian Gulf War blew up a car Tuesday outside a company providing security for the U.S. Embassy in Lima, killing three security guards and seriously injuring seven other people, authorities said. In a drive-by attack, the rebels threw at least 22 pounds of dynamite and fired machine-gun bursts at three diplomats' cars parked in front of the company, police said.
BUSINESS
October 16, 1990 | Associated Press
A consumer group said Monday that five of the nation's top 20 property and casualty insurance companies would be threatened with insolvency in the event of a severe economic downturn. Spokesmen for four of the firms took issue with the report by the Ralph Nader organization Public Citizen and said the companies are healthy. Comment was not immediately available from the fifth firm.
BUSINESS
November 7, 1989 | From Associated Press
The former head of Transit Casualty Co., a high-risk insurer that left up to $4 billion in unpaid claims when it crumbled in 1985, has pleaded innocent to a charge of filing a false financial statement. George Pettengill Bowie, 64, Transit's former chairman and chief executive, entered the plea Thursday in Circuit Court after his indictment by a Cole County grand jury, county prosecutor Richard Callahan said Sunday.
Los Angeles Times Articles
|