Business Services Industry
Life Re Announces Agreement To Purchase Insurance Subsidiary
Business Wire, Oct 7, 1996
STAMFORD, Conn.--(BUSINESS WIRE)--Oct. 7, 1996--Reassure America Life Insurance Company, an indirect wholly owned subsidiary of Life Re Corporation (NYSE:LRE), reported that it has entered into an agreement to acquire New American Life Insurance Company for a purchase price of approximately $21.0 million. The agreement, dated as of October 3, 1996, contains a number of conditions including insurance regulatory approvals.
Life Re Corporation is a leading provider of life and health reinsurance in the United States through its subsidiary, Life Reassurance Corporation of America.
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