INSURANCE MERGERS
PACIFIC COY. ABSORBED Insurance company amalgamations appear in the air* at the moment. It is reported that negotiations hat*e been entered into by the Atlas Insurance Company to acquire the Pacific Insurance Company. The Pacific Company, which has a paid-up capital of £60,457, representing £1 shares paid tq 4s a share, has been operating a little over eight years, and during that time appears to have built up a healthy little business. The proposed terms submitted by the Atlas Company provide for the payment of a 2s premium to shareholders in the Pacific concern for every 4s paid share held. It is understood that a stipulation of the deal is that 90 per cent, of the shareholders agree to the deal. It is also announced that the New Zealand business of the Southern Union General Insurance Company has been purchased by the Royal Exchange Insurance Corporation.
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Sun (Auckland), Volume II, Issue 348, 8 May 1928, Page 13
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148INSURANCE MERGERS Sun (Auckland), Volume II, Issue 348, 8 May 1928, Page 13
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