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ACORDIA ACQUIRES AMERICAN BUSINESS INSURANCE

 INDIANAPOLIS, Oct. 6 /PRNewswire/ -- Acordia Inc. (NYSE: ACO) announced today that it has completed the acquisition of substantially all of the insurance brokerage firm American Business Insurance, Inc. (ABI). The Indianapolis-based insurance broker announced the definitive agreement to acquire ABI on Aug. 26, 1993.
 "A year ago, we told investors that Acordia would significantly increase its property and casualty brokerage capability. With the acquisition of ABI, we have met that strategic objective," said L. Ben Lytle, chairman, president and chief executive officer of Acordia.
 Acordia is a nationwide network of companies that provide insurance brokerage administration, consulting and selected financial services. Based on 1992 gross revenues, after the ABI acquisition, Acordia is now the seventh largest broker in the United States and the ninth largest in the world.
 -0- 10/6/93
 /CONTACT: William Carmichael (media), 317-488-6248, or Thomas Vanneman (investors), 317-488-6246, both of Acordia/
 (ACO)


CO: Acordia Inc.; American Business Insurance, Inc. ST: Indiana IN: INS SU: TNM

AR-BM -- CL007 -- 9368 10/06/93 13:28 EDT
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Publication:PR Newswire
Date:Oct 6, 1993
Words:168
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