Lincoln Nat'l Life agrees to buy UNUM's TSA book. (Lincoln National Life Insurance Co., UNUM Life Insurance Co. of America, tax-sheltered annuity)

National Underwriter Life & Health-Financial Services Edition, January, 1996 by Niedzielski, Joe

Lincoln National Life Insurance Co. plans to expand its customer base by 166,000 customers by purchasing UNUM Corp affiliates' group tax-sheltered annuity businesses. Lincoln will pay about $70 million for the annuity operations of Life Insurance Company of America and First UNUM Life Insurance Company of New York. The deal involves the management of about $3.2 billion of assets and 1,700 group contracts.

Lincoln National Life Ins. Co. has agreed to acquire the group taxsheltered annuity business of UNUM Life Ins. Co of America and First UNUM Life Ins Co. of New York -both UNUM Corp. affillates - for about S70 million.

The deal, subject to regulatory approval, involves about 1,700 group contracts with S3.2 billion in managed assets.

"This offered us an...

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