The Boston Globe Boston Capital column
For two years, the giant Prudential Life Insurance Co. of America bear the main burden of anger - and the public - on charges that the industry was guilty of a decade, widespread fraudulent practices of turnover.
Prudential has already paid $ 35 million in fines and, just before the end of a difficult negotiation process, it is expected that these costs to settle a national class action is well - Apart from previous estimates of $ 1 billion.
But many companies are behind teed Prudential. One of these shortly before a solution: John Hancock Mutual Life Insurance Co.
The transaction, expected within two months, costs the big Boston insurer at least $ 100 million in cash and the value added in relation to policyholders, plus benefits to be determined by another proposal for resolving dispute , Say with the negotiations. But the solution can be Hancock, to familiarize themselves with their true agenda: the raising of capital to prepare for a world in which insurers acquires or acquired.
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