CalFed to Sell Insurer: CalFed Inc. said...

CalFed to Sell Insurer: CalFed Inc. said it agreed to sell Anglo American Insurance Co., a London-based property casualty business, for about $100 million to John Head & Associates, a New York merchant banking company. CalFed, the Los Angeles parent of California Federal Bank, started Anglo American in 1987, injecting $80 million into the firm. CalFed said the sale must be approved by the British Department of Trade and Industry.