Existing users please login

Forgot Password
 

    Home / Markets / Industries / Finance

    Thursday, November 05, 2009

    Citigroup Files For IPO Of Primerica Unit

    | Respond to Editor | Print

     
    By Alistair Barr
    MarketWatch Pulse
       

      SAN FRANCISCO -- Citigroup Inc. said late Thursday that its Primerica Inc. unit has filed plans for an initial public offering, the latest step in a break-up of the struggling financial giant. Primerica has roughly 100,000 licensed sales representatives who sell term life insurance, underwritten by the company, as well as mutual funds, variable annuities, loans and other financial products, Citi explained. "Today's announcement represents an important step in simplifying our organization," said Michael Corbat, chief executive of Citi Holdings, which houses Citigroup's non-core businesses. "This is the best separation alternative for this franchise."

      Copyright © 2009 MarketWatch, Inc.
       

      Fox Business Video


      FOX Business Tools

       

      Personal Finance - Investing - Financial News - Business News - Stock Market Quotes & News - Small Business

      Advertise with us | Jobs at FOX Business Network | Internships at FBN

      Terms of use. Privacy Statement. For FOXBusiness.com technical issues write to foxbusinessonline@foxbusiness.com; for all other feedback, write to feedback@foxbusiness.com.

      Quotes delayed at least 15 minutes. Market Data provided by Interactive Data (Terms & Conditions). Powered and implemented by Interactive Data Managed Solutions. Company fundamental data provided by Morningstar. Earnings estimates data provided by Zacks. Mutual fund data provided by Lipper. Economic data provided by Econoday. Dow Jones & Company Terms & Conditions.

      This material may not be published, broadcast, rewritten, or redistributed. ©2009 FOX News Network, LLC. All rights reserved.