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BUSINESS
September 30, 2003 | From Reuters
Wall Street reacted warily Monday to Manulife Financial Corp.'s bid to buy life insurer John Hancock Financial Inc. for about $10 billion in stock, as concerns mounted that the resulting insurance giant wouldn't achieve promised cost savings. The deal would create the second-largest life insurer in North America and the largest in Canada. Manulife is currently the No. 3 Canadian insurer.
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CALIFORNIA | LOCAL
December 22, 1999 | Andrew Glazer, (949) 574-4275
What seemed like a routine meeting with a corporate sponsor turned out to be a windfall for the Orange County Child Abuse Prevention Center on Tuesday. James Swegle, regional vice chairman of Safeco, a Seattle-based insurance company, presented the nonprofit group with a surprise $5,000 check. Safeco also presented Kathy McCarrell, executive director of the center, with a Rudy Award for her work as a "special beacon of community light."
CALIFORNIA | LOCAL
July 26, 2003 | Kenneth Reich, Times Staff Writer
Safeco, which said earlier this week that it was ceasing the sale of homeowners insurance to new customers in California, said Friday it was filing for a 19.7% homeowners rate hike and would resume sales if it got the increase. Mike LaRocco, chief operating officer of Safeco Personal Insurance, said the request for an increase -- the fourth Safeco would receive in three years -- was based "on our previous loss history and indications of future losses, needs for capital and a fair return."
NEWS
August 16, 1993 | From Times Wire Services
Safeco Corp. plans to pay $40 million to its California insurance customers in order to settle a four-year fight with state regulators. The payout was required under Proposition 103, a 1988 state ballot measure that required insurance rate reductions and some premium rebates. Since then, several companies have been arguing with California regulators over the amount of the rebate. A company spokeswoman said Seattle-based Safeco spent $2 million in outside legal fees on the fight.
BUSINESS
September 30, 2003 | From Reuters
Wall Street reacted warily Monday to Manulife Financial Corp.'s bid to buy life insurer John Hancock Financial Inc. for about $10 billion in stock, as concerns mounted that the resulting insurance giant wouldn't achieve promised cost savings. The deal would create the second-largest life insurer in North America and the largest in Canada. Manulife is currently the No. 3 Canadian insurer.
BUSINESS
July 7, 1998 | LIZ PULLIAM, TIMES STAFF WRITER
California's auto insurance price war, which already had seen rates fall by an average of 5.5% in the last three years, heated up Monday as two companies announced rate cuts expected to pressure major insurers to follow suit. Progressive Corp. said it trimmed premiums for the third time in 10 months, slicing an average 5.5% off customers' bills.
CALIFORNIA | LOCAL
July 26, 2003 | Kenneth Reich, Times Staff Writer
Safeco, which said earlier this week that it was ceasing the sale of homeowners insurance to new customers in California, said Friday it was filing for a 19.7% homeowners rate hike and would resume sales if it got the increase. Mike LaRocco, chief operating officer of Safeco Personal Insurance, said the request for an increase -- the fourth Safeco would receive in three years -- was based "on our previous loss history and indications of future losses, needs for capital and a fair return."
CALIFORNIA | LOCAL
August 25, 2001 | From Times Staff Reports
A Palmdale cardiologist wanted for allegedly filing false insurance claims turned himself in to authorities Friday and pleaded not guilty to four counts of insurance fraud, grand theft, conspiracy and perjury, authorities said. Dr. Enobong Ekong, 58, surrendered in Los Angeles County Superior Court, said Sandi Gibbons, a spokeswoman for the district attorney's office. Judge Henry Barela set bail at $30,000.
CALIFORNIA | LOCAL
December 22, 1999 | Andrew Glazer, (949) 574-4275
What seemed like a routine meeting with a corporate sponsor turned out to be a windfall for the Orange County Child Abuse Prevention Center on Tuesday. James Swegle, regional vice chairman of Safeco, a Seattle-based insurance company, presented the nonprofit group with a surprise $5,000 check. Safeco also presented Kathy McCarrell, executive director of the center, with a Rudy Award for her work as a "special beacon of community light."
BUSINESS
July 7, 1998 | LIZ PULLIAM, TIMES STAFF WRITER
California's auto insurance price war, which already had seen rates fall by an average of 5.5% in the last three years, heated up Monday as two companies announced rate cuts expected to pressure major insurers to follow suit. Progressive Corp. said it trimmed premiums for the third time in 10 months, slicing an average 5.5% off customers' bills.
NEWS
August 16, 1993 | From Times Wire Services
Safeco Corp. plans to pay $40 million to its California insurance customers in order to settle a four-year fight with state regulators. The payout was required under Proposition 103, a 1988 state ballot measure that required insurance rate reductions and some premium rebates. Since then, several companies have been arguing with California regulators over the amount of the rebate. A company spokeswoman said Seattle-based Safeco spent $2 million in outside legal fees on the fight.
BUSINESS
July 14, 1998 | BARBARA MURPHY
Safeco Insurance Co. of America will open offices in the Center Promenade business complex in Ventura. The company has leased 10,200 square feet at 1001 Partridge St. for its local claims and legal departments. Capital Commercial/NAI represented the complex's owner, Arden Realty, in the five-year lease transaction.
CALIFORNIA | LOCAL
July 3, 1990
Several leading California insurance companies filed lawsuits in Los Angeles Superior Court challenging state Insurance Commissioner Roxani Gillespie's plan for implementing Proposition 103 rate rollbacks. The suits seek an immediate halt to rollback proceedings and a court order overturning various parts of Gillespie's decision in June detailing the method for rollbacks. The suits challenge Gillespie's decision that 11.
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