Delphi Financial Group, Inc., a financial services company, engages in specialty insurance and insurance-related businesses in the United States. It operates in two segments, Group Employee Benefit Products and Asset Accumulation Products. The Group Employee Benefit Products segment provides disability, group life, and excess workers’ compensation insurance products. It also offers travel accident, voluntary accidental death and dismemberment, group dental, and limited benefit health insurance products, as well as workers’ compensation and casualty treaty reinsurance. This segment markets its group products to employer-employee groups and associations in various industries primarily through ...
1105 North Market Street
P O Box 8985
Wilmington, DE 19899
Founded in 1987
Delphi Financial Group, Inc. Appoints PricewaterhouseCoopers LLP Inplace of Ernst & Young LLP as Auditor
May 22 12
Ernst & Young LLP announced that it has resigned as Delphi Financial Group Inc.'s public accounting firm following closing of Delphi's deal with Tokio Marine Holdings Inc. The auditor's resignation comes in anticipation of the appointment of PricewaterhouseCoopers LLP as Delphi's independent auditor following the deal. PricewaterhouseCoopers Aarata is the independent auditor for Tokio Marine. The resignation was not the result of any disagreements between the parties as to accounting principles or auditing scope.
Delphi Financial Group, Inc. Appoints PricewaterhouseCoopers LLP as Independent Auditor Replacing Ernst & Young LLP Resigned as Independent Registered Public Accounting Firm
May 21 12
Delphi Financial Group, Inc. announced the appointment of PricewaterhouseCoopers LLP, as independent auditor subsequent to the Ernst & Young LLP resigned as independent registered public accounting firm.
Delphi Financial Group, Inc. Announces Board Changes; Adopts Amendment to Certificate of Incorporation
May 16 12
On May 15, 2012, pursuant to the agreement and plan of merger dated as of December 21, 2011, among Delphi Financial Group, Inc., Tokio Marine Holdings, Inc. and TM Investment (Delaware) Inc., Merger Sub merged with and into Delphi with Delphi continuing as the surviving corporation and becoming an indirect wholly owned subsidiary of Tokio Marine. On May 15, 2012, in connection with the Merger, the following members of Delphi’s board of directors resigned as of the Effective Time: Messrs. Kevin R. Brine, Edward A. Fox, Steven A. Hirsh, James M. Litvack, James N. Meehan, Philip R. O’Connor and Robert F. Wright. Following such resignations, Messrs. Ian Brimecome, Kunihiko Fujii, Ichiro Ishii, Stephan A. Kiratsous, James J. Maguire, Jr. and Fumiaki Namekawa were elected to serve as directors of Delphi. Mr. Robert Rosenkranz and Mr. Donald A. Sherman will continue to serve as directors of Delphi.
On May 15, 2012, after the Effective Time of the Merger, the company’s board of directors adopted an amendment to the second amended and restated certificate of incorporation. The Post-Merger certificate amendment permitted the chairman of the board or the chairman of the board committees to cast a tie-breaking vote if the board or the relevant board committee considers any action that results in an equal number of the directors or the committee members at the meeting voting for and against the action and such action would be effective if taken by a majority vote. Delphi’s sole stockholder with voting power, Tokio Marine & Nichido Fire Insurance Co. Ltd., approved and adopted the Post-Merger Certificate Amendment by a written consent. The Post-Merger Certificate Amendment became effective immediately upon its filing.