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Article: Leucadia National Completes Sale of Colonial Penn Life Insurance Co. to Conseco.
- Article from:
- Business Wire
- Article date:
- October 1, 1997
CopyrightCOPYRIGHT 1997 Business Wire. 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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NEW YORK--(BUSINESS WIRE)--Oct. 1, 1997--Leucadia National Corp. (NYSE and PSE: "LUK") today announced the completion of the sale of its life insurance subsidiaries Colonial Penn Life Insurance Co. and Providential Life Insurance Co. and certain related assets to Conseco Inc., for $460 million payable in cash and notes.
These companies are principally engaged in the sale of "graded benefit life" insurance policies ...