CNA Risk Management Acquires Smith System.CHICAGO--(BUSINESS WIRE)--April 16, 1998--CNA (NYSE NYSE See: New York Stock Exchange :CNA (Certified NetWare Administrator) See Novell certification. ) today announced the acquisition of Smith System, a fleet driver training company based in Arlington, Texas Arlington is a city in Tarrant County, Texas (USA) within the Dallas-Fort Worth-Arlington metropolitan area. According to a U.S Census Bureau release, as of July 1, 2006 Arlington has an estimated population of 367,197. . Smith System will join CNA as a division of CNA Risk Management, retaining its name and remaining operationally independent. Terms of the acquisition were not disclosed. Smith System has a database of thousands of current accounts and has provided driver training or training aids Any item developed or procured with the primary intent that it shall assist in training and the process of learning. for the majority of Fortune 500 companies. The company began training fleet drivers in 1952 and has delivered documented accident reduction results of up to 75 percent. "Smith System is internationally recognized as the premier fleet driver training program," said Robert Kulbick, senior vice president of Risk Management and Consulting Services at CNA. "By acquiring Smith System, we can now offer our clients the best loss prevention tool on the market to reduce fleet accident rates." "Smith System has grown by an average of 20 percent each year, but exponential growth Extremely fast growth. On a chart, the line curves up rather than being straight. Contrast with linear. has been limited by our ability to exploit international market opportunities," said Kirk Sexton sex·ton n. An employee or officer of a church who is responsible for the care and upkeep of church property and sometimes for ringing bells and digging graves. , CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Smith System. "With CNA Risk Management's financial strength and large customer base we will be able to expand much more rapidly and offer more flexibility to customers, while still maintaining the high quality of our program." CNA Risk Management will hire and train additional instructors and increase the sales force to expand distribution of the Smith System. As a result, Smith will be able to offer the program to more customers. In addition, CNA plans to make Smith System available internationally, as customers around the world continue to request this type of training. "The addition of Smith System allows CNA Risk Management to offer the most comprehensive book of transportation safety products and services in the industry," said Peter Conway, president of CNA Risk Management. "Smith also will complement and expand CNA Risk Management's client base by giving us the opportunity to offer our other products and services to Smith System clients not already working with us." CNA is one of the world's premier insurance organizations, ranking among the top 10 U.S. insurance groups. Since 1987, CNA has built on a foundation of financial strength, stability and commitment to customers and business partners. CNA is the registered service mark and trade name of CNA Financial CNA Financial Corporation (NYSE: CNA) is a financial corporation based in Chicago, Illinois, United States, and noted for its 600 foot tall red headquarters building there. Its principal subsidiary, Continental Casualty Company (CCC) was founded in 1897. Corporation. CONTACT: CNA Media Contacts: Carrie Rosen, 312/822-5819 Roger Morris, 312/822-4195 Analysts Contact: Deborah Kamp, 312/822-7752 |
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