Thursday, July 06, 2006

 

Protective Life Closes On Chase Subsidiary

A Southern insurer has completed previously announced efforts to acquire an insurance business from a giant bank holding company.

Protective Life Corp., Birmingham, Ala., ended up paying about $1.2 billion for the unit, Chase Insurance Group, Elgin, Ill., to the group’s former owner, JPMorgan Chase & Company, New York.

Protective Life Closes On Chase Subsidiary
Source: National Underwriter (subscription required)

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