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Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
January 02, 2002 at 07:00 PM
NU Online News Service, Jan. 2, 2:53 p.m. – Scottish Annuity & Life Holdings Ltd., George Town, Grand Cayman, says it has completed previously announced plans to acquire a reinsurance unit from Pacific Life Insurance Company, Newport Beach, Calif., for $78 million in stock.
Scottish Annuity announced the agreement to acquire the unit, World-Wide Reassurance Company Ltd., Windsor, United Kingdom, in August.
Scottish Annuity, a company that reinsures life insurance policies and annuity contracts, has added an operation with $166 million in assets that provides reinsurance for life insurance companies outside the United States.
Pacific Life now has a 22% stake in Scottish Annuity and two seats on the Scottish Annuity board.
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