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THE FLORIDA EMPLOYERS INSURANCE COMPANY ANNOUNCES APPOINTMENT OF LIQUIDATORS

 THE FLORIDA EMPLOYERS INSURANCE COMPANY
 ANNOUNCES APPOINTMENT OF LIQUIDATORS
 GEORGE TOWN, Grand Cayman, British West Indies, April 2 /PRNewswire/ -- The Florida Employers Insurance Company (NASDAQ-NMS: FLAEF) announced today that Christopher D. Johnson and Robert C. Jenkinson, partners in the accounting firm of Coopers & Lybrand of George Town, Grand Cayman, British West Indies, have accepted appointment as liquidators to direct the winding up of the company.
 As previously announced, the company completed the sale of its assets to FCCI Investment Group, Inc. for a price of $36,112,560 U.S. (equivalent to $16.00 per share) on March 31, 1992. The dissolution of the company and the winding up of its affairs were approved by the shareholders of the company on March 30, 1992.
 Final distribution of the proceeds from the sale to shareholders will occur after the liquidators have paid the debts and liabilities of the company, or otherwise have arranged for the release from liability by the creditors and claimants involved.
 -0- 4/2/92
 /CONTACT: Roger Phelps of The Florida Employers Insurance Company, 809-949-0155/
 (FLAEF) CO: The Florida Employers Insurance Company; Coopers & Lybrand ST: Florida IN: INS SU: PER


AW-SS -- FL006 -- 4355 04/02/92 11:52 EST
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Publication:PR Newswire
Date:Apr 2, 1992
Words:201
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