Metropolitan Property & Casualty Insurance has agreed...

Metropolitan Property & Casualty Insurance has agreed to purchase the property and casualty insurance portfolio and supporting operations of J.C. Penney Casualty Insurance . . . Karla Scherer, who succeeded in her proxy battle to sell the R.P. Scherer pharmaceutical company, said she will donate $2 million of the $110 million the family will receive from the sale to establish a foundation to explore and correct “serious inequities” in corporations’ dealings with shareholders. Scherer said she also wants to provide scholarships for women who plan to study business.