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Steinberg became the CEO of Reliance, and he and his brother were the senior managers of Reliance for the next thirty years. Steinberg took on large amounts of debt during the junk bond era and grew, apparently by underpricing its insurance policies. [2]
Dec 11, 2012 · In the so-called go-go 1960s, he surfed the big waves of the buoyant stock market to capture a company, Reliance Insurance, more than 10 times the size of his own. He made that score in 1968;...
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In 1968 Leasco bought 91% of Reliance Insurance Company and its subsidiaries (Steinberg bought the balance of the company in the winter of 1981). A year later in 1969 Steinberg attempted to take over the $9 billion Chemical Bank , then one of the nation's largest financial institutions. [7]
Jan 4, 2001 · It had confirmed, very publicly, what had been whispered in New York society all last spring—that Saul Steinberg, 61, the legendary financier, chairman of Reliance Group Holdings, and one of...
Dec 11, 2012 · Saul P. Steinberg, who critics say used Reliance Insurance Co. as a personal piggybank, taking out hundreds of millions of dollars to fund an opulent lifestyle and his many adventures in...
Sep 1, 2004 · In the directors and officers case, Reliance executives, including former Chairman Saul P. Steinberg, are accused of draining the company of money to support "lavish" lifestyles. Currently, this case is in mediation, Placey said.
May 27, 2000 · Reliance Group Holdings, the insurance company that had supported Mr. Steinberg's corporate sallies for three decades, is being sold to the Leucadia National Corporation for $295 million in...
