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By Bill Atkinson and Bill Atkinson,SUN STAFF | June 12, 1997
Aegon N.V., the Dutch insurer with its U.S. headquarters in Baltimore, yesterday completed its acquisition of Providian Corp.'s insurance business in one of the largest insurance deals of its kind.Aegon said it paid $3.5 billion to Louisville, Ky.-based Providian, which retains its credit card business.The transaction, which was announced in December, increases Aegon's assets by about 25 percent to $130 billion, and it will make Baltimore-based Aegon USA the country's ninth largest life insurer in assets, up from 15th position.
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BUSINESS
By KENNETH HARNEY | February 22, 2004
HOME mortgage and credit industry experts say it could be the start of something big: lenders providing free, round-the-clock access to your credit score, plus practical advice on how to improve it. Providian Financial Corp., a large San Francisco-based credit card issuer, plans to give its customers unlimited views of their credit scores, whenever they choose, at no charge. The service also will provide the two top reasons the scores are not higher, plus calculations of how credit-related steps could raise - or depress - the score.
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BUSINESS
By Sean Somerville and Sean Somerville,SUN STAFF | March 20, 1998
Aegon N.V., the large Dutch insurance company with its U.S. headquarters in Baltimore, said yesterday that fourth-quarter net income increased 32 percent as the company continued to benefit from its acquisition of Providian Corp.Net income was $358 million, up from $272 million in the year-earlier quarter. Total revenue was $4.29 billion, up 18 percent from $3.64 billion. Earnings per share were $1.25, up 23 percent from $1.02."In 1997, we have surpassed all our previous records," said Aegon N.V. Chairman Kees Storm.
BUSINESS
By BLOOMBERG NEWS | November 9, 1999
SAN FRANCISCO -- Providian Financial Corp. said yesterday that the Connecticut attorney general is investigating the way it does business, adding to the credit-card company's legal problems and sending its stock down 23 percent.Providian shares plummeted $26.25, to $89.25 in New York Stock Exchange trading of 7.8 million shares, about six times the three-month daily average. The stock drop shaved about $3.75 billion from Providian's market value, and the 22.7 percent drop was the biggest percentage decline on the S&P 500 index.
BUSINESS
By Sean Somerville and Sean Somerville,SUN STAFF Bloomberg News contributed to this article | August 14, 1998
Dutch insurer Aegon NV, which has its U.S. headquarters in BTC Baltimore, said yesterday that its second quarter net income rose about 25 percent in U.S. dollars as the company continued to benefit from its acquisition of Providian Corp.Net income for the quarter was $328 million, up from $262 million in the year-ago quarter. Net income per share was 56 cents, up 17 percent from 48 cents a year earlier, as revenue increased 32 percent, to $4.58 billion from $3.47 billion.The company said that in the six-month period, the Providian acquisition boosted net income per share by about 16 percent, while it more than doubled total income from the Americas to $470 million.
BUSINESS
By BLOOMBERG NEWS | November 9, 1999
SAN FRANCISCO -- Providian Financial Corp. said yesterday that the Connecticut attorney general is investigating the way it does business, adding to the credit-card company's legal problems and sending its stock down 23 percent.Providian shares plummeted $26.25, to $89.25 in New York Stock Exchange trading of 7.8 million shares, about six times the three-month daily average. The stock drop shaved about $3.75 billion from Providian's market value, and the 22.7 percent drop was the biggest percentage decline on the S&P 500 index.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | December 31, 1996
Aegon N.V., the Dutch insurer with its U.S. headquarters in Baltimore, signed a definitive agreement to acquire Providian Corp.'s insurance business in a deal valued at $3.5 billion, the companies said yesterday.Aegon officials called the transaction with the Louisville, Ky.-based Providian the largest life insurance acquisition ever in the United States.The deal increases Aegon's assets by 25 percent to $117.4 billion, and it will make Baltimore-based Aegon USA the country's ninth largest life insurer, up from 15th position.
BUSINESS
By Jay Hancock and Jay Hancock,SUN STAFF | August 23, 1997
Insurer Aegon N.V. expects to slash $100 million in annual costs from its U.S. operations and will soon announce just where those cuts will come: in Louisville, Ky., in Baltimore or elsewhere, the company said yesterday."
BUSINESS
By Shanon D. Murray and Shanon D. Murray,SUN STAFF | October 6, 1998
Cendant Corp., the franchiser and direct marketer struggling to recover from accounting fraud, called off yesterday its $219 million acquisition of Providian Auto Home and Insurance Co., a subsidiary of Baltimore's Aegon USA.Cendant also filed a lawsuit against the company.The Parsippany, N.J., company said Providian's financial health worsened after Cendant agreed to acquire the insurer for cash in December.In a statement, Cendant said "several representations and covenants in the acquisition agreement had not been fulfilled and the conditions to closing had not been met."
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | November 14, 1997
Aegon N.V., the large Dutch insurance company with its U.S. headquarters in Baltimore, said its third-quarter profit jumped 26.2 percent, fueled by an acquisition, big gains from its North American operations and a growing life insurance business.Aegon reported net income of $294 million, or 594 million guilders, for the quarter ended Sept. 30, compared with net income of $233 million, or 389 million guilders for the corresponding quarter a year earlier.The company's net income per share in the 1997 quarter was $1.02, compared with 88 cents a year earlier.
BUSINESS
By Shanon D. Murray and Shanon D. Murray,SUN STAFF | October 6, 1998
Cendant Corp., the franchiser and direct marketer struggling to recover from accounting fraud, called off yesterday its $219 million acquisition of Providian Auto Home and Insurance Co., a subsidiary of Baltimore's Aegon USA.Cendant also filed a lawsuit against the company.The Parsippany, N.J., company said Providian's financial health worsened after Cendant agreed to acquire the insurer for cash in December.In a statement, Cendant said "several representations and covenants in the acquisition agreement had not been fulfilled and the conditions to closing had not been met."
BUSINESS
By Sean Somerville and Sean Somerville,SUN STAFF Bloomberg News contributed to this article | August 14, 1998
Dutch insurer Aegon NV, which has its U.S. headquarters in BTC Baltimore, said yesterday that its second quarter net income rose about 25 percent in U.S. dollars as the company continued to benefit from its acquisition of Providian Corp.Net income for the quarter was $328 million, up from $262 million in the year-ago quarter. Net income per share was 56 cents, up 17 percent from 48 cents a year earlier, as revenue increased 32 percent, to $4.58 billion from $3.47 billion.The company said that in the six-month period, the Providian acquisition boosted net income per share by about 16 percent, while it more than doubled total income from the Americas to $470 million.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF Bloomberg News contributed to this article | May 15, 1998
Dutch insurer Aegon NV, which has its U.S. headquarters in Baltimore, said yesterday that its net income rose 46 percent in the first quarter fueled by an acquisition and strong performance in the Americas.Aegon reported net income of $316 million, or 648 million guilders, for the first quarter that ended March 31, compared with net income of $216 million, or 403 million guilders for the same period a year ago.The company made $1.09 a share in the quarter, up 33 percent from the 82 cents made in the 1997 quarter.
BUSINESS
By Sean Somerville and Sean Somerville,SUN STAFF | March 20, 1998
Aegon N.V., the large Dutch insurance company with its U.S. headquarters in Baltimore, said yesterday that fourth-quarter net income increased 32 percent as the company continued to benefit from its acquisition of Providian Corp.Net income was $358 million, up from $272 million in the year-earlier quarter. Total revenue was $4.29 billion, up 18 percent from $3.64 billion. Earnings per share were $1.25, up 23 percent from $1.02."In 1997, we have surpassed all our previous records," said Aegon N.V. Chairman Kees Storm.
BUSINESS
December 11, 1997
Aegon N.V., the large Dutch insurance company with U.S. headquarters in Baltimore, said yesterday that it will sell Providian Auto and Home Insurance Co. to New Jersey-based HFS Inc. for about $219 million in cash.Aegon USA Inc., the Baltimore-based subsidiary, acquired the business in June when it bought the insurance operations of Louisville, Ky.-based Providian Corp. for $3.5 billion."The sale of the property and casualty business supports Aegon USA's strategy to concentrate its resources on growth in the life insurance and retirement and savings product sectors of the market," said Donald J. Shepard, chairman of Aegon USA.HFS, based in Parsippany, N.J., provides a range of services worldwide, including real estate sales, travel services, vehicle management, mortgage loans and worker relocation.
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | November 14, 1997
Aegon N.V., the large Dutch insurance company with its U.S. headquarters in Baltimore, said its third-quarter profit jumped 26.2 percent, fueled by an acquisition, big gains from its North American operations and a growing life insurance business.Aegon reported net income of $294 million, or 594 million guilders, for the quarter ended Sept. 30, compared with net income of $233 million, or 389 million guilders for the corresponding quarter a year earlier.The company's net income per share in the 1997 quarter was $1.02, compared with 88 cents a year earlier.
BUSINESS
December 11, 1997
Aegon N.V., the large Dutch insurance company with U.S. headquarters in Baltimore, said yesterday that it will sell Providian Auto and Home Insurance Co. to New Jersey-based HFS Inc. for about $219 million in cash.Aegon USA Inc., the Baltimore-based subsidiary, acquired the business in June when it bought the insurance operations of Louisville, Ky.-based Providian Corp. for $3.5 billion."The sale of the property and casualty business supports Aegon USA's strategy to concentrate its resources on growth in the life insurance and retirement and savings product sectors of the market," said Donald J. Shepard, chairman of Aegon USA.HFS, based in Parsippany, N.J., provides a range of services worldwide, including real estate sales, travel services, vehicle management, mortgage loans and worker relocation.
BUSINESS
By KENNETH HARNEY | February 22, 2004
HOME mortgage and credit industry experts say it could be the start of something big: lenders providing free, round-the-clock access to your credit score, plus practical advice on how to improve it. Providian Financial Corp., a large San Francisco-based credit card issuer, plans to give its customers unlimited views of their credit scores, whenever they choose, at no charge. The service also will provide the two top reasons the scores are not higher, plus calculations of how credit-related steps could raise - or depress - the score.
BUSINESS
By Jay Hancock and Jay Hancock,SUN STAFF | August 23, 1997
Insurer Aegon N.V. expects to slash $100 million in annual costs from its U.S. operations and will soon announce just where those cuts will come: in Louisville, Ky., in Baltimore or elsewhere, the company said yesterday."
BUSINESS
By Bill Atkinson and Bill Atkinson,SUN STAFF | June 12, 1997
Aegon N.V., the Dutch insurer with its U.S. headquarters in Baltimore, yesterday completed its acquisition of Providian Corp.'s insurance business in one of the largest insurance deals of its kind.Aegon said it paid $3.5 billion to Louisville, Ky.-based Providian, which retains its credit card business.The transaction, which was announced in December, increases Aegon's assets by about 25 percent to $130 billion, and it will make Baltimore-based Aegon USA the country's ninth largest life insurer in assets, up from 15th position.
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