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ARM FINANCIAL GROUP ANNOUNCES ACQUISITION OF INTEGRITY LIFE INSURANCE COMPANY

 LOUISVILLE, Ky., Nov. 29 /PRNewswire/ -- ARM Financial Group, Inc. (AMEX: ARM) announced that on Friday, Nov. 26, 1993, it completed its previously announced acquisition of Integrity Life Insurance Company and National Integrity Life Insurance Company, the U.S. insurance operations of National Mutual Life Association of Australasia Limited.
 Integrity and National Integrity have combined assets of approximately $2 billion and market investment oriented insurance products such as fixed and variable annuities through financial institutions, stockbrokers and financial planners.
 ARM, headquartered in Louisville, Ky., is a financial services holding company formed by The Morgan Stanley Leveraged Equity Fund II, L.P. (MSLEF II) and Analytical Risk Management, Ltd. MSLEF II, a $2.25 billion private equity investment fund, is sponsored by Morgan Stanley Group Inc. Analytical Risk Management, Ltd. is an organization based in Louisville, Ky., formed by John Franco and Martin H. Ruby, the Co-Chief Executive Officers of ARM Financial Group, Inc. ARM's 9 1/2 percent cumulative perpetual preferred stock is traded on the American Stock Exchange (Amex: ARM).
 ARM, through its insurance subsidiaries, develops, markets and manages individual and group annuity products and life insurance products. In addition, ARM provides product development, asset/liability management and administrative services to non- affiliates.
 -0- 11/29/93
 /CONTACT: John R. Lindholm, executive vice president and chief marketing officer of ARM Financial Group, Inc., 502-582-0900/
 (ARM)


CO: ARM Financial Group, Inc.; National Integrity Life Insurance
 Company ST: Kentucky IN: INS SU: TNM


PS -- NY080 -- 8437 11/29/93 16:39 EST
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Publication:PR Newswire
Date:Nov 29, 1993
Words:250
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