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CIGNA CORPORATION AND YASUDA FIRE AND MARINE IMPLEMENT TRANSACTION INVOLVING CIGNA'S LIFE INSURANCE COMPANY IN JAPAN

 PHILADELPHIA, July 7 /PRNewswire/ -- CIGNA Corporation (NYSE: CI) and the Yasuda Fire and Marine Insurance Company, Ltd. announced today that they have entered into a transaction that will enhance the ability of the two companies to deliver life insurance products and services to the Japanese marketplace through their respective insurance agency networks.
 In the transaction, Yasuda purchased a 10 percent interest in INA Life Insurance Company, Ltd. of Japan (INA Life Japan), CIGNA's Japanese life insurance operation. The terms of the transaction were not disclosed.
 Spokesmen for both organizations said the transaction strengthens the 20-year working relationship between CIGNA and Yasuda in serving insurance customers in Japan and the United States. Broadening the relationship at this time positions both organizations for the future and for competing effectively in Japan's changing insurance marketplace, officials said.
 Yasuda's investment involves only INA Life Japan. CIGNA's non-life operations in Japan are not involved in the arrangement, and will continue to provide Japanese customers with a broad range of property, casualty, accident and health insurance products and financial services through its nationwide network of 51 offices and 3,200 agencies.
 INA Life Japan was established in 1981. The company's 1992 earned premiums and pre-tax earnings, on a statutory basis, were approximately $375 million and $15 million, respectively. It is an affiliate of CIGNA International Financial Services, CIGNA Corporation's international life insurance and employee benefits division.
 The CIGNA companies are leading providers of insurance, health care, employee benefits, pension and investment management services to businesses and individuals worldwide.
 /delval/
 -0- 7/7/93
 /CONTACT: Paul Gallanda of CIGNA, 215-761-4746/
 (CI)


CO: CIGNA Corporation; Yasuda Fire and Marine Insurance Company, Ltd. ST: Pennsylvania IN: INS SU:

MK -- PH007 -- 8973 07/07/93 09:43 EDT
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Publication:PR Newswire
Date:Jul 7, 1993
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