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BUSINESS
October 11, 2005 | From Associated Press
Lincoln National Corp. said Monday that it would acquire rival Jefferson-Pilot Corp. for about $7.5 billion in cash and stock, as the two century-old companies create one of the largest publicly traded life insurance companies in the U.S. The buyer, which would retain the Lincoln National and Lincoln Financial Group names, would be the nation's largest seller of universal life insurance products and a leader in group disability insurance and retirement plan assets, the companies said.
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BUSINESS
October 11, 2005 | From Associated Press
Lincoln National Corp. said Monday that it would acquire rival Jefferson-Pilot Corp. for about $7.5 billion in cash and stock, as the two century-old companies create one of the largest publicly traded life insurance companies in the U.S. The buyer, which would retain the Lincoln National and Lincoln Financial Group names, would be the nation's largest seller of universal life insurance products and a leader in group disability insurance and retirement plan assets, the companies said.
BUSINESS
July 30, 2001 | From Bloomberg News
Swiss Reinsurance Co. agreed Sunday to buy Lincoln National Corp.'s reinsurance business for $2 billion. Swiss Re will integrate Lincoln's reinsurance operations into Swiss Re North American Life & Health unit, the company said in a statement. Company officials weren't immediately available for comment. Swiss Re, based in Zurich, will raise equity to finance the acquisition, which it hopes to complete in the fourth quarter, the company said.
BUSINESS
June 10, 1997 | From Bloomberg News
Safeco Corp. said Monday that it agreed to buy Lincoln National Corp.'s property and casualty insurance unit for about $2.8 billion, a move that highlights a wave of consolidation in this highly competitive part of the industry. Safeco, a Seattle-based insurer, would pay $47 a share to buy American States Financial Corp., the Lincoln National unit. Safeco is financing the purchase with a combination of cash, stock and debt.
BUSINESS
May 22, 1998 | Associated Press
Lincoln National Corp. is buying Aetna's U.S. individual life insurance business for $1 billion, its second large life insurance acquisition this year. Under the deal, Lincoln National will purchase $50 billion in insurance business from Hartford, Conn.-based Aetna. Aetna would keep its group life and international life insurance businesses, as well as its health insurance business. Fort Wayne, Ind.
BUSINESS
December 13, 1994 | From Times Staff and Wire Reports
Lincoln National to Buy Delaware Management: The company said it signed a definitive agreement to acquire closely held Delaware Management Holdings Inc. for about $510 million, including the assumption of $209 million of debt. The transaction also provides for a contingency payment of $22.5 million based on future revenue growth.
BUSINESS
November 23, 1988 | JAMES S. GRANELLI, Times Staff Writer
Nearly all 120 employees at a Lincoln National Corp. claims processing office in Orange are being laid off as the Indiana company prepares to close the office Dec. 2. Many of the Orange operations will be consolidated into the Ft. Scott, Kan., headquarters of the firm's claims processing subsidiary, Lincoln National Administrative Services Corp., according to Robert Jones, a spokesman for the parent company.
BUSINESS
July 30, 2001 | From Bloomberg News
Swiss Reinsurance Co. agreed Sunday to buy Lincoln National Corp.'s reinsurance business for $2 billion. Swiss Re will integrate Lincoln's reinsurance operations into Swiss Re North American Life & Health unit, the company said in a statement. Company officials weren't immediately available for comment. Swiss Re, based in Zurich, will raise equity to finance the acquisition, which it hopes to complete in the fourth quarter, the company said.
BUSINESS
July 29, 1997 | From Times Wire Services
Lincoln National Corp. said Monday that it will buy Cigna Corp.'s individual life insurance and annuity businesses for $1.4 billion, a move that would make Lincoln the eighth-largest retirement savings and life insurance company in the United States. The sale reflects Cigna's plans to move away from retail insurance and into management of employee benefits and pensions.
BUSINESS
May 22, 1998 | Associated Press
Lincoln National Corp. is buying Aetna's U.S. individual life insurance business for $1 billion, its second large life insurance acquisition this year. Under the deal, Lincoln National will purchase $50 billion in insurance business from Hartford, Conn.-based Aetna. Aetna would keep its group life and international life insurance businesses, as well as its health insurance business. Fort Wayne, Ind.
BUSINESS
July 29, 1997 | From Times Wire Services
Lincoln National Corp. said Monday that it will buy Cigna Corp.'s individual life insurance and annuity businesses for $1.4 billion, a move that would make Lincoln the eighth-largest retirement savings and life insurance company in the United States. The sale reflects Cigna's plans to move away from retail insurance and into management of employee benefits and pensions.
BUSINESS
June 10, 1997 | From Bloomberg News
Safeco Corp. said Monday that it agreed to buy Lincoln National Corp.'s property and casualty insurance unit for about $2.8 billion, a move that highlights a wave of consolidation in this highly competitive part of the industry. Safeco, a Seattle-based insurer, would pay $47 a share to buy American States Financial Corp., the Lincoln National unit. Safeco is financing the purchase with a combination of cash, stock and debt.
BUSINESS
December 13, 1994 | From Times Staff and Wire Reports
Lincoln National to Buy Delaware Management: The company said it signed a definitive agreement to acquire closely held Delaware Management Holdings Inc. for about $510 million, including the assumption of $209 million of debt. The transaction also provides for a contingency payment of $22.5 million based on future revenue growth.
BUSINESS
November 4, 1992 | From Times Wire Services
The Travelers Corp. on Tuesday said that it lost $358 million in the third quarter and announced plans to eliminate another 1,500 jobs following 3,500 in cuts outlined less than two months ago. The insurer blamed the loss on claims from Hurricane Andrew and costs associated with a recession-related restructuring, which includes a plan to sell a 27% stake to the New York-based financial services concern Primerica Corp. The third-quarter results translate to a loss of $3.
BUSINESS
November 4, 1992 | From Times Wire Services
The Travelers Corp. on Tuesday said that it lost $358 million in the third quarter and announced plans to eliminate another 1,500 jobs following 3,500 in cuts outlined less than two months ago. The insurer blamed the loss on claims from Hurricane Andrew and costs associated with a recession-related restructuring, which includes a plan to sell a 27% stake to the New York-based financial services concern Primerica Corp. The third-quarter results translate to a loss of $3.
BUSINESS
November 23, 1988 | JAMES S. GRANELLI, Times Staff Writer
Nearly all 120 employees at a Lincoln National Corp. claims processing office in Orange are being laid off as the Indiana company prepares to close the office Dec. 2. Many of the Orange operations will be consolidated into the Ft. Scott, Kan., headquarters of the firm's claims processing subsidiary, Lincoln National Administrative Services Corp., according to Robert Jones, a spokesman for the parent company.
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