Business Services Industry
Washington National announces completion of sale of individual health insurance business to Pioneer Financial Services
Business Wire, August 2, 1996
LINCOLNSHIRE, Ill.--(BUSINESS WIRE)--Aug. 2, 1996--Washington National Corp. (NYSE: WNT, WNT/Pr) announced today that it has completed the sale of its Health Division's individual health insurance business to Pioneer Financial Services Inc. (NYSE: PFS) of Schaumburg, Ill.
Pioneer purchased the individual health and small group life and health insurance business in a reinsurance transaction for cash consideration of $19 million.
Washington National Corp. is an insurance holding company with subsidiaries engaged primarily in marketing and underwriting life insurance and annuities for individuals and specialty health insurance for educators.
CONTACT: Washington National Corp., Lincolnshire
Craig Simundza, 847/793-3053
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