Sierra To Sell W.C. Subsidiary
NU Online News Service, Dec. 1 , 2003, 12:25 p.m.EST?Sierra Health Services Inc., Las Vegas, said it hasagreed to sell its workers' compensation subsidiary, CaliforniaIndemnity Insurance Company Inc., to Folksamerica Holdings CompanyInc., for $15.5 million in cash up front and up to $64 million inperformance-based payments.[@@]
Sierra hopes to collect the performance-based payments, whichwill depend on California Indemnity's claims and other expenses, inJanuary 2010.
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.