August 8, 1995 |
FHP International Corp. said Monday it has been selected to offer managed health-care benefits to more than 1,650 Japanese companies headquartered in California. FHP, a pioneer HMO that has undergone organizational upheavals in recent weeks, said it will be the first HMO offered through NLI Insurance Agency Inc., a subsidiary of the 106-year-old Nippon Life Insurance Agency Inc.
October 23, 1989 |
Nippon Life Insurance, Japan's largest life insurer, said Friday that it had agreed to buy an 80% stake in the Paine Webber Building, a midtown Manhattan landmark, for $550 million. Equitable Life Assurance Society will hold the other 20% and continue to manage the 38-story building on the Avenue of the Americas, a Nippon Life spokesman said. Nippon has invested in five other U.S. buildings in cooperation with Equitable.
November 30, 1989 |
Battered by market weakness and its own blunders, Shearson Lehman Hutton announced Wednesday a reorganization that will demote Jeffrey B. Lane, the investment firm's current president and chief operating officer, and elevate a cadre of younger executives. The regrouping apparently makes Richard S. Fuld, 43, the leading candidate to eventually become Shearson's next president.
May 12, 2009 |
Embattled insurer American International Group Inc. said it was selling its Japanese headquarters to Nippon Life Insurance Co. for $1.2 billion in cash. The transaction, which would be among the biggest divestitures New York-based AIG has made to reimburse the U.S. government for its massive infusion of aid, is expected to close in the second quarter.
May 15, 1987
American Express Co. reported proceeds of $580 million from the initial public offering of 18 million shares in its Shearson Lehman Bros. Holdings Inc. investment subsidiary. The firm earlier had sold 13 million shares of cumulative preferred stock in Shearson to Nippon Life Insurance Co. for $508.3 million, so proceeds from the sales totaled nearly $1.9 billion.
August 3, 1989 |
A top Bank of Tokyo executive has been named chairman of Union Bank, effective Sept. 27. Jiro Ishizaka, 61, also was elected to the board of the San Francisco bank, effective immediately. Ishizaka most recently was an adviser to the president of Bank of Tokyo, Minoru Inouye. Union Bank is 77% owned by Bank of Tokyo. Ishizaka's office will be in Los Angeles, the bank said. Ishizaka replaces Tamotsu Yamaguchi, who will continue serving as a Union Bank director.