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BUSINESS
May 6, 1997 | ANNETTE HADDAD
SunAmerica continues to clock impressive results as it focuses, laser-like, on becoming a household name for handling the retirement nest eggs of the nation's baby boomers. At No. 4, the top-ranked Los Angeles County company on the overall Times 100 list posted a 43% increase in sales in 1996 and has more than doubled its earnings since 1993. The torrid pace has been fueled by internal growth and a series of shrewd acquisitions.
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BUSINESS
September 15, 2000 | JERRY HIRSCH, TIMES STAFF WRITER
Eli Broad, the billionaire home builder and insurance executive with a reputation as Los Angeles' most fervent corporate cheerleader, said Thursday that he will retire as chief executive of retirement savings company SunAmerica Inc. to devote more time to philanthropy. One of the nation's wealthiest individuals--he ranks No.
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BUSINESS
June 18, 1996 | Times Staff and Wire Reports
SunAmerica Buys 33% Stake in Danskin: The L.A.-based financial services company also warned that it may seek the authority to purchase more shares in New York-based Danskin Inc. SunAmerica Inc. acquired the Danskin stake from Esmark Inc. through a foreclosure sale, according to a Schedule 13D filed with the Securities and Exchange Commission. SunAmerica, a creditor of the bankrupt Esmark, purchased 2.01 million Danskin shares for $3 each, or a total of $6.03 million.
BUSINESS
May 6, 1997 | ANNETTE HADDAD
SunAmerica continues to clock impressive results as it focuses, laser-like, on becoming a household name for handling the retirement nest eggs of the nation's baby boomers. At No. 4, the top-ranked Los Angeles County company on the overall Times 100 list posted a 43% increase in sales in 1996 and has more than doubled its earnings since 1993. The torrid pace has been fueled by internal growth and a series of shrewd acquisitions.
BUSINESS
December 29, 1995 | Times Staff and Wire Reports
Zenith National Completes Unit Sale: The Woodland Hills company said it completed the sale of its life insurance and annuity businesses to SunAmerica Inc. for $120 million in cash. The purchase gives SunAmerica, a Los Angeles financial services company with $27 billion in assets, a so-called 403(b) retirement savings plan business for teachers and other employees of nonprofit organizations. The sale of the CalFarm Life Insurance Co. unit allows Zenith National Insurance Corp.
BUSINESS
November 15, 1996 | Times Staff and Wire Reports
Los Angeles-based SunAmerica Inc. said it will buy $5 billion worth of annuity reserves from John Alden Financial Corp. for undisclosed terms. The purchase would include "substantially all" of John Alden's annuity business and comes as the company focuses on its health insurance business, said Chris Wells, a spokeswoman for Miami-based John Alden. The company said in March that it would sell its annuity and credit life and disability units as part of that focus.
BUSINESS
June 16, 1994 | THOMAS S. MULLIGAN, TIMES STAFF WRITER
In a move that extends the development of banks into financial supermarkets, First Interstate Bancorp and insurance giant SunAmerica Inc. on Wednesday announced an agreement under which SunAmerica's tax-deferred variable annuities will be sold through First Interstate branches. SunAmerica, a Los Angeles-based life insurer with $23 billion in assets, said it struck a similar deal with Chase Manhattan Corp.
BUSINESS
November 14, 1995 | From Bloomberg Business News
SunAmerica Inc. agreed to buy Ford Motor Co.'s life insurance unit for $172.5 million in an effort to continue its rapid growth in the annuity business. Ford Life Insurance Co. has about 100,000 annuity policies in effect, representing $3 billion in reserves. Ford Life would keep its health insurance and accident insurance operations. The transaction is expected to be completed early next year and is subject to regulatory approvals.
BUSINESS
September 15, 2000 | JERRY HIRSCH, TIMES STAFF WRITER
Eli Broad, the billionaire home builder and insurance executive with a reputation as Los Angeles' most fervent corporate cheerleader, said Thursday that he will retire as chief executive of retirement savings company SunAmerica Inc. to devote more time to philanthropy. One of the nation's wealthiest individuals--he ranks No.
BUSINESS
November 15, 1996 | Times Staff and Wire Reports
Los Angeles-based SunAmerica Inc. said it will buy $5 billion worth of annuity reserves from John Alden Financial Corp. for undisclosed terms. The purchase would include "substantially all" of John Alden's annuity business and comes as the company focuses on its health insurance business, said Chris Wells, a spokeswoman for Miami-based John Alden. The company said in March that it would sell its annuity and credit life and disability units as part of that focus.
BUSINESS
June 18, 1996 | Times Staff and Wire Reports
SunAmerica Buys 33% Stake in Danskin: The L.A.-based financial services company also warned that it may seek the authority to purchase more shares in New York-based Danskin Inc. SunAmerica Inc. acquired the Danskin stake from Esmark Inc. through a foreclosure sale, according to a Schedule 13D filed with the Securities and Exchange Commission. SunAmerica, a creditor of the bankrupt Esmark, purchased 2.01 million Danskin shares for $3 each, or a total of $6.03 million.
BUSINESS
December 29, 1995 | Times Staff and Wire Reports
Zenith National Completes Unit Sale: The Woodland Hills company said it completed the sale of its life insurance and annuity businesses to SunAmerica Inc. for $120 million in cash. The purchase gives SunAmerica, a Los Angeles financial services company with $27 billion in assets, a so-called 403(b) retirement savings plan business for teachers and other employees of nonprofit organizations. The sale of the CalFarm Life Insurance Co. unit allows Zenith National Insurance Corp.
BUSINESS
November 14, 1995 | From Bloomberg Business News
SunAmerica Inc. agreed to buy Ford Motor Co.'s life insurance unit for $172.5 million in an effort to continue its rapid growth in the annuity business. Ford Life Insurance Co. has about 100,000 annuity policies in effect, representing $3 billion in reserves. Ford Life would keep its health insurance and accident insurance operations. The transaction is expected to be completed early next year and is subject to regulatory approvals.
BUSINESS
June 16, 1994 | THOMAS S. MULLIGAN, TIMES STAFF WRITER
In a move that extends the development of banks into financial supermarkets, First Interstate Bancorp and insurance giant SunAmerica Inc. on Wednesday announced an agreement under which SunAmerica's tax-deferred variable annuities will be sold through First Interstate branches. SunAmerica, a Los Angeles-based life insurer with $23 billion in assets, said it struck a similar deal with Chase Manhattan Corp.
BUSINESS
December 10, 1996 | Times Staff and Wire Reports
Los Angeles-based SunAmerica Inc.'s mutual fund subsidiary SunAmerica Asset Management Corp. named Fidelity Investments marketing executive Per Furmark senior vice president for sales and marketing. . . . Chatsworth-based Cohr Inc. named Sandy D. Morford its president and chief operating officer. . . . Pasadena-based Tetra Tech Inc. said it has signed the final agreement to acquire IWA Engineers Inc. for undisclosed terms.
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