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.
April 5, 2000
Pacific Life Insurance Co., which is based in Newport Beach, said net income for 1999 rose 54% to $371 million from $241.5 million the previous year. Revenue rose 11% to $3.1 billion.
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.
February 26, 2000 |
Pacific Life Insurance Co. said Friday that it has proposed a $200-million restructuring plan for a struggling Nashville real estate investment trust that owns prison properties. The Newport Beach life insurer, which owns a 4% stake in Prison Realty Trust Inc., said its proposal is better for shareholders than the company's plan to sell a $350-million stake to a group led by Blackstone Group Inc.