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DELPHI FINANCIAL GROUP, INC. REPORTS SECOND 1992 ANNUITY AGREEMENT

 WILMINGTON, Del., Dec. 30 /PRNewswire/ -- Delphi Financial Group, Inc. (NASDAQ: DLFI) today announced the acquisition of $150 million of deferred annuities through an indemnity coinsurance agreement.
 This acquisition will increase invested assets approximately 10 percent, excluding securities held under reverse repurchase agreements. The deferred annuities acquired are subject to surrender charges which should enhance future persistency. Delphi will receive principally AAA-rated bonds in support of the liabilities assumed. This acquisition is subject to board approval.
 This acquisition, together with a $60 million block of annuity business acquired in the first quarter of 1992, is consistent with the company's operating strategy of achieving significant asset growth without incurring the expenses associated with developing and maintaining an extensive captive marketing organization. In addition, management said it believes the persistency and other performance statistics available with respect to acquired blocks of business allows for a more reliable estimate of future profitability.
 Delphi Financial Group, Inc. is an insurance holding company that underwrites, through its subsidiaries, a portfolio of life, long-term disability and personal accident insurance, targeted principally to the employee benefit market, and asset accumulation products throughout the 50 states and the District of Columbia.
 /delval/
 -0- 12/30/92
 /CONTACT: Patrick J. Mitchell of Delphi Financial, 215-787-3943/
 (DLFI)


CO: Delphi Financial Group, Inc. ST: Delaware IN: INS SU:

MJ-CC -- PH022 -- 0728 12/30/92 17:15 EST
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Publication:PR Newswire
Date:Dec 30, 1992
Words:225
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