Business Services Industry
CEO of Boston-Based Insurer Speaks of Coming Consolidation in Industry.
Knight Ridder/Tribune Business News, July, 2003
By Scott Bernard Nelson, The Boston Globe Knight Ridder/Tribune Business News
Jul. 23--David D'Alessandro, chief executive at John Hancock Financial Services Inc., sees the day coming when a wave of consolidation will wash over the insurance industry. But not just yet, because most insurers are still too skittish about the economy to make ac...uisitions.
In an interview from a 59th-floor office atop the office tower that carries his company's name but which, like many other corporate assets, he sold recently, the outspoken D'Alessandro also:
--Defended the $21.7 million he received in compensation during 2002, but said the company could have done a better job of explaining it.
--Said the Boston insurer has been offered the...
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