American Bankers Insurance Group Inc. to list on New York Stock Exchange.
MIAMI--(BUSINESS WIRE)--June 13, 1997--American Bankers Insurance Group Inc. (NASDAQ NASDAQ
in full National Association of Securities Dealers Automated Quotations
U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ABIG ABIG American Bankers Insurance Group
ABIG Access Bus Industry Group ) Friday announced that the company has applied for listing of its Common and Preferred Stock on the New York Stock Exchange New York Stock Exchange (NYSE)
World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. (NYSE NYSE
See: New York Stock Exchange ). The company anticipates that it will begin trading on the NYSE in early July under the symbol "ABI Abi (ā`bī) [short for Abijah], in the Bible, King Hezekiah's mother.
(Application Binary Interface) A specification for a specific hardware platform combined with the operating system. ."
American Bankers Insurance Group has traded on the NASDAQ National Market System under the symbol "ABIG" since Dec. 3, 1980, when the holding company was formed. Prior to formation of American Bankers Insurance Group, American Bankers Insurance Company of Florida (ABIC) and American Bankers Life Assurance Company of Florida (ABLAC) traded OTC OTC
See over-the-counter market (OTC). . ABIC was formed on Oct. 21, 1947 and ABLAC was formed on Jan. 30, 1952. In 1980 when ABIG began trading on NASDAQ, gross collected premiums were $311 million and in 1996 ABIG posted gross collected premiums of approximately $2.5 billion. Upon effectiveness of its NYSE listing, the company will delist its shares from NASDAQ.
"Our listing on the NYSE comes at a time of continued growth for ABIG as we expand our product lines and into global markets. We believe the NYSE will provide ABIG the increased visibility and investor accessibility to support our growth," said Gerald N. Gaston, president and chief executive officer.
American Bankers Insurance Group Inc. (ABIG) concentrates on marketing affordable, specialty insurance products and services through financial institutions, retailers and other entities offering consumer financing as a regular part of their business. ABIG, through its insurance subsidiaries, operates in the United States, Canada, the Caribbean, Latin America and the United Kingdom.
CONTACT: American Bankers Insurance Group, Miami
P. Bruce Camacho
Executive Vice President