joining in the consolidation trend among insurers. In creating a new company, CGU PLC, the two companies expected to capture greater market share, cut operating costs by 10 percent through job losses and integrating information technology
GA also added to its holdings by acquiring nonstandard auto insurer Sabre, in 1995, followed by life insurer and pension specialist Provident Mutual in 1996, and Canada's General Insurance Group Ltd. in 1997.CU and GA Merge: 1998 Faced with unrelenting competition and falling premium rates in...