Riding the wave of recent bank financed insurance acquistions, Chase Manhattan Corp. is leading a $750 million loan for Provident Cos.' $1.2 billion acquisition of Paul Revere Corp.

This latest deal follows several other bank-financed insurance acquisitions announced in the first quarter. Travelers Group will use $2.5 billion in bank loans for its $4.0 billion acquisition of Aetna Life & Casualty's property-casualty insurance business, while Wellpoint Health Networks will use $1.0 billion in bank loans for its $380 million acquisition of the life and health operations of Massachusetts Mutual Life Insurance Co.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.