Business Services Industry
Minnesota Regulators Approve St. Paul Cos.' Purchase of Firm's Subsidiaries.
Knight Ridder/Tribune Business News, February, 2004
By Sheryl Jean, Saint Paul Pioneer Press, Minn. Knight Ridder/Tribune Business News
Feb. 24--Minnesota regulators have approved part of The St. Paul Cos.' pending merger with Travelers Property Casualty Corp. in Hartford, Conn.
The Minnesota Department of Commerce late last week approved The St. Paul's purchase of four Travelers' subsidiaries -- Northland Insurance Co., Northland Casualty Co., Mendota Insurance Co. and Mendakota Insurance Co. -- in the state.
As the main regulator in the merger, the Connecticut Insurance Department in Hartford must render a decision by March 11.
The Minnesota action marks another hurdle the two companies have overcome toward completing their merger to become the nation's second-largest...
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