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FIDELITY MUTUAL LIFE, WESTERN AND SOUTHERN LIFE ANNOUNCE MARKETING AGREEMENT

 FIDELITY MUTUAL LIFE, WESTERN AND SOUTHERN LIFE
 ANNOUNCE MARKETING AGREEMENT
 RADNOR, Pa., March 4 /PRNewswire/ -- The Fidelity Mutual Life Insurance Company, Radnor, and the Western and Southern Life Insurance Company, Cincinnati, have announced a marketing agreement.
 Effective April 10, 1992, the Fidelity field force will begin writing new policies with Columbus Life, Columbus, Ohio, a wholly owned subsidiary of Western and Southern, according to Warren W. Deakins, president and chief executive officer, Fidelity Mutual Life Insurance Company.
 The agreement is in keeping with Fidelity's long range strategic plan to streamline operations and will provide mutual benefits to both companies. According to Deakins, it will provide Western and Southern access to the upscale income markets serviced by Fidelity Mutual and it will allow Fidelity to build surplus, restructure assets and improve its overall financial position.
 "Our industry is changing and we must change with it," said Deakins. "Moving from a fixed-cost distribution system to a direct reimbursement system, in partnership with Western and Southern, will allow us to immediately and significantly improve our financial strength and protect and enhance the interests of our policyholders."
 While specific details will be finalized over the next several weeks, it is likely that the proposed agreement will result in a reduction in force at the Fidelity home office, said Deakins.
 The Fidelity Mutual Life Insurance Company is a Pennsylvania mutual company with assets of more than $1.2 billion. Western and Southern and Columbus Life, Ohio companies, have combined assets in excess of $7 billion.
 /delval/
 -0- 3/4/92
 /CONTACT: Warren W. Deakins, president and CEO of Fidelity Mutual Life Insurance, 215-964-7330/ CO: Fidelity Mutual Life Insurance Company; Western and Southern Life
 Insurance Company ST: Pennsylvania, Ohio IN: INS SU: JVN


MP-LJ -- PH016 -- 5038 03/04/92 15:02 EST
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Publication:PR Newswire
Date:Mar 4, 1992
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