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Article: JEFFERSON-PILOT LIFE INSURANCE COMPANY COMPLETES THE ASSUMPTION OF THE LIFE INSURANCE AND ANNUITY BUSINESS OF KENTUCKY CENTRAL LIFE INSURANCE
- Article from:
- PR Newswire
- Article date:
- May 31, 1995
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Copyright informationCOPYRIGHT 1995 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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GREENSBORO, N.C., May 31 /PRNewswire/ -- Jefferson-Pilot Corporation (NYSE: JP) announced today (Wednesday, May 31, 1995) that it has assumed the life insurance and annuity business of Kentucky Central Life Insurance Company.
The closing follows a Kentucky State Supreme Court decision on May 11, 1995 unanimously upholding the sale of the business to Jefferson- Pilot.
According to Jefferson-Pilot officials, the transaction:
-- represents approximately 300,000 policies;
-- increases Jefferson-Pilot's invested assets by approximately
$850 million; and
-- is expected to meet the company's target of at least a 1%