An old law's repeal, a new wave of M&A

Last year, Congress repealed the 1933 Glass-Steagall Act, which had banned banks, security firms and insurers from expanding into each other's businesses. There may now be a wave of mergers and acquisitions in the insurance industry. Some of the potential buyout targets include ReliaStar Financ...

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Bibliographic Details
Published in:Fortune 2000-01, Vol.141 (2), p.172
Main Author: Boitano, Margaret
Format: Magazinearticle
Language:English
Subjects:
Acquisitions & mergers
Deregulation
Financial executives
Financial services
Glass-Steagall Act 1933-US
Insurance industry
International finance
Manycompanies
Stock prices
Trends
Online Access:Get full text
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Summary:Last year, Congress repealed the 1933 Glass-Steagall Act, which had banned banks, security firms and insurers from expanding into each other's businesses. There may now be a wave of mergers and acquisitions in the insurance industry. Some of the potential buyout targets include ReliaStar Financial, Lincoln National, American General and Hartford Financial Services.
ISSN:0015-8259