Since passage of the Gramm-Leach-Bl...

Since passage of the Gramm-Leach-Bliley Financial Services Modernization Act forward Nov. 12, 1999, only a handful of banks have acquired insurance companies, and those acquisitions have been relatively small deals. This lack of bank-insurance melding flies in the face of what was anticipated--a fluster of cross-industry activity to create one-stop stores like Citigroup, the icon of financial-services tendency to meet No one expected that Citigroup would announce the company's spinoff of Travelers estate Casualty Corp. less than sum of two units years after it acquired all shares of Travelers possessions Casualty stock it did not already confess ...