St. Paul to Make 2 Purchases: MMI Cos. and Pacific Select.The St. Paul St. Paul as a missionary he fearlessly confronts the “perils of waters, of robbers, in the city, in the wilderness.” [N.T.: II Cor. 11:26] See : Bravery Cos. said it would buy MMI (Man Machine Interface) See HMI. 1. MMI - Man-Machine Interface. 2. (company) MMI - The company which developed the first Programmable Array Logic devices. MMI was bought by AMD. Cos. Inc., Deerfield Beach Deerfield Beach, town (1990 pop. 46,325), Broward co., SE Fla., on the Atlantic coast; inc. 1925. The development of high-technology industry and commerce expanded the town and more than doubled its population between 1970 and 1990. , Ill., for $10 a share in cash, or $200 million. St. Paul, which provides medical liability insurance products and services in 12 countries, will assume about $120 million of MMI debt. The transaction is expected to close in the second quarter. St. Paul said the combination will create the largest global integrated provider of insurance and risk-management services for the health-care industry. It expects the combined operations For the department of the British War Office during World War II, see . In the military, combined operations are operations conducted by forces of two or more allied nations acting together for the accomplishment of a single mission. See also
In the 12 months ending Sept. 30, MMI, which provides products and services for the health-care industry, reported net written premiums and fees of $432 million, while St. Paul reported net written premiums of $575 million from its worldwide health-care business. In a separate deal, St. Paul said it would pay $37 million to acquire Pacific Select Insurance Holdings Inc. and its subsidiary, Pacific Select Property Insurance, a Walnut Creek Walnut Creek, residential city (1990 pop. 60,569), Contra Costa co., W Calif., in the San Francisco Bay area; inc. 1914. It is the trade and shipping center of an extensive agricultural area where walnuts are among the major product. , Calif.-based insurer that sells earthquake coverage to California homeowners. The acquisition was expected to be completed in the first quarter. Its underwriting company, Concord, Calif.-based GeoVera Insurance Co., will manage the company, St. Paul said. Kevin Nish, chief executive officer of GeoVera, said the acquisition would help, the company grow its earthquake insurance Earthquake insurance is a form of property insurance that pays the policyholder in the event of an earthquake that causes damage to the property. Most ordinary homeowners insurance policies do not cover earthquake damage. business in California, allowing it to save money and spread risk over a larger area. Pacific Select Property has 1999 net written premiums of about $18 million, mostly from the southern California area, according to St. Paul. |
|
||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion