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Chicago-Based Aon Puts Life of Virginia on Market.(Originated from Richmond Times-Dispatch, Va.)
Knight Ridder/Tribune Business News, September, 1995 by Ress, David
Sept. 28--Life of Virginia is up for possible sale, the Richmond-based insurer's parent company disclosed yesterday. Patrick G. Ryan, Aon Corp. chairman and chief executive, said other companies had asked about buying The Life Insurance Company of Virginia and another Aon subsidiary.
Chicago-based Aon has hired two investment banks to advise it on the possibility of selling Life of Virginia and Union Fidelity Life Insurance Co.
Aon doesn't expect to sell Life of Virginia before the first quarter of 1996, said spokeswoman Joan Steel.
And if it doesn't like the price it is offered, Aon would hang onto Life of Virginia, she said.
"Life of Virginia is a tremendous franchise," she said. If Life of Virginia is sold, local employees need not worry...
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