Financial Services Industry
Industry: Email Alert RSS FeedWith bidding closed, Monarch suitors up to six. (Monarch Life Insurance Co.)
National Underwriter Life & Health-Financial Services Edition, September, 1991 by Intindola, Brendan
Four companies have submitted bids to acquire Monarch Life Ins. Co., raising to six the number of firms interested in the seized insurer, a spokeswoman for the Massachusetts insurance department confirmed.
Union Fidelity Life Ins. co., Trevose, PA.; Montgomery Ward Life Ins. Co., Schaumberg, III.; Merrill Lynch & Co.; and John Head & Partners, a New York merchant bank, have submitted offers for Springfield-based Monarch Life, according to Dorothy Krenzer, the spokeswoman.
They join Penn Mutual Life Ins. Co. and Private Capital Partners, Inc. in trying to assemble a package of financing and insurance experience that meets with regulator approval.
Ms. Mutual said the department has hired First Boston Corp. as consultants to assist the...
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