October 29, 1997 |
About 150,000 policyholders of First Capital Life Insurance Co., a big San Diego insurer that went under late in 1991, stand to share $80 million from a Newport Beach insurer that took over the policies under a state rescue program. Pacific Life Insurance Co., which invested First Capital assets of $4.1 billion, said it should pay out the profits from those investments--an average $533 per policy--by the end of the year, pending regulatory approval.
December 22, 1999 |
Newport Beach-based Pacific Life Insurance Co., California's largest insurance company, is in talks that could lead to it being sold to German insurance giant Allianz AG for more than $3 billion. The company is Orange County's largest privately held concern and one of its largest employers with 2,200 workers. It is also a leading corporate citizen, overseeing a $2.4 million charitable foundation that has provided support for such events as AIDS Walk Orange County and Race for the Cure.
December 22, 1999 |
California's largest insurance company, Newport Beach-based Pacific Life Insurance Co., is in talks that could lead to it being sold to German insurance giant Allianz for more than $3 billion. The negotiations were disclosed Tuesday in a filing with the Securities and Exchange Commission and are separate from the pending $3.3-billion acquisition by Munich-based Allianz of Pimco Advisors Holdings, which is 30%-owned by Pacific Life.
September 21, 2001 |
Pacific Life & Annuity Co. said Thursday that it will move next year to a new five-story building in Irvine's Main Corporate Center, consolidating its Southern California operations in one place. Layton-Belling & Associates, a real estate company, is building the new offices for Pacific Life & Annuity, which currently has 450 employees in Fountain Valley and Huntington Beach. Pacific Life & Annuity, a division of Pacific Life Insurance Co.
January 29, 2000 |
Newport Beach-based Pacific Life Insurance Co. is relocating 450 employees, or about 25% of its work force, to Foothill Ranch, the company said Friday. Most of the workers will be transferred from Newport Center, the office buildings that ring Fashion Island. A smaller number will be moved from a Fountain Valley facility, said company spokeswoman Marie Connell. She added that the company has run out of space at its main office at Newport Center, and at other area buildings where it leases space.
August 7, 2001 |
Scottish Annuity & Life Holdings Ltd. on Monday said it would buy a reinsurance unit of Pacific Life Insurance Co. for $78 million in stock to boost capital and build a core business overseas. Scottish Annuity, which provides reinsurance of life insurance and annuities and also issues customized variable life and annuity products for the wealthy, will buy World-Wide Holdings Ltd. and its World-Wide Reassurance Co. Ltd. unit, based in Windsor, England.