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ACCEL International Corporation Will Cease Writing Commercial Business.

STAFFORD, Texas--(BUSINESS WIRE)--July 2, 1999--

ACCEL International Corporation (Nasdaq/NMS:ACLE) announced that its wholly-owned subsidiary, Acceleration National Insurance Company, will cease writing new business and non-renew existing business as quickly as possible with the purpose of exiting all of its current lines of business consisting of commercial property and casualty insurance products.

Loss experience in commercial business written in 1998 and to date has prompted this action. Management is pursuing efforts to restructure the company so that it can re-enter other areas of the insurance market in the not too distant future.

ACCEL International Corporation is an Ohio based holding company that provides specialty property and casualty products and services through its insurance subsidiary throughout the United States.
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Publication:Business Wire
Date:Jul 2, 1999
Words:121
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