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ACORDIA INCREASES QUARTERLY DIVIDEND 22 PERCENT

 INDIANAPOLIS, May 21 /PRNewswire/ -- Today the board of directors of Acordia, Inc. (NYSE: ACO), an Indianapolis-based insurance brokerage firm, declared a quarterly dividend of $0.11 per share payable on June 17, 1993, to stockholders of record at the close of business on June 3, 1993. The quarterly dividend was increased 22 percent from $0.09 per share in the previous quarter.
 Earlier in the day, at the firm's first annual meeting as a public company, CEO L. Ben Lytle referred to 1992 as "an excellent year, culminating with our successful initial public offering."
 In October 1992, Acordia stock was first offered to the public, and the company joined Alexander & Alexander; Arthur J. Gallagher; Hilb, Rogal & Hamilton; Marsh & McLennan; and Poe & Brown as one of only six publicly traded U.S.-based insurance brokerage firms.
 Acordia, which is a network of 22 insurance brokerage companies, is different from other insurance brokers because it is structured to meet the needs of clients in specific geographic, demographic and industry markets.
 In 1992, Acordia had revenues of $207.2 million, net income of $20.2 million, and stockholders' equity of $124.8 million.
 -0- 5/21/93
 /CONTACT: Media: William Carmichael, 317-488-6248; or Investors: Thomas Vanneman, 317-488-6246; both of Acordia, Inc./
 (ACO)


CO: Acordia, Inc. ST: Indiana IN: INS SU: DIV

KL -- CL009 -- 1254 05/21/93 14:18 EDT
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Publication:PR Newswire
Date:May 21, 1993
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