Irish Life News
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Great-West Lifeco Inc., the owner of Putnam Investments, said Chief Executive Officer Allen Loney will retire and that Raymond L. McFeetors will step down as chairman.
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German technology worker Thomas Maag left Ireland in 2007, just before the Celtic Tiger economy collapsed. Now, he’s back.
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Permanent TSB Group Holdings Plc, the Irish lender owned by the government, said its annual loss more than doubled as dwindling gains from buying back its own debt outweighed a decline in provisions for bad loans.
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Great-West Lifeco Inc., Canada’s second-largest insurer, agreed to buy Irish Life Group Ltd. for C$1.75 billion ($1.73 billion) from Ireland’s government as it seeks to expand European operations. Shares climbed the most in almost seven months.
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JC Flowers & Co LLC, short-listed last year in Ireland’s shelved sale of Irish Life Group Ltd., is still interested in buying the nation’s largest life insurer, an executive at the U.S. investment firm said.
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Irish Life Group Ltd. Chief Executive Officer Kevin Murphy postponed his plans to retire at the end of 2012 as the government revived talks to sell the state-owned insurer to Canada’s Great-West Lifeco Inc.
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Irish Life & Permanent Plc , the nation’s only government-guaranteed bank to avoid a bailout, is weighing a sale of its profitable life assurance and investment management units, three people with knowledge of the talks said.
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Irish Life & Permanent Plc said it may face lawsuits and fines stemming from its role in a scandal which claimed the top three executives at the mortgage provider.
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Ireland’s Finance Minister Brian Lenihan is to meet with Denis Casey, the chief executive officer of Irish Life & Permanent Plc today, the ministry said.
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Irish Life & Permanent Plc posted an operating loss as it set aside more money to cover bad loans at its mortgage unit after real-estate prices plunged.
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