Printer Friendly

DELPHI FINANCIAL GROUP INCREASES ASSETS THROUGH ANNUITY AGREEMENT

 DELPHI FINANCIAL GROUP INCREASES ASSETS THROUGH ANNUITY AGREEMENT
 WILMINGTON, Del., April 3 /PRNewswire/ -- Delphi Financial Group, Inc. (NASDAQ: DLFI) today announced the acquisition of approximately $60 million of deferred annuities through an indemnity reinsurance agreement.
 The agreement will increase invested assets, excluding securities held under reverse repurchase agreements, approximately 3.8 percent. Delphi will receive cash in support of the liabilities assumed. This agreement to coinsure an existing block of annuities is subject to board approval.
 This agreement 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 that the persistency and other performance statistics available with respect to this block 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 annuities and guaranteed investment contracts throughout the 50 states and the District of Columbia.
 /delval/
 -0- 4/3/92
 /CONTACT: Patrick J. Mitchell, AVP, Finance of Delphi Financial, 215-787-3950/
 (DLFI) CO: Delphi Financial Group, Inc. ST: Delaware IN: INS SU:


MK-CC -- PH033 -- 4993 04/03/92 16:15 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 3, 1992
Words:215
Previous Article:MAZDA REPORTS SALES FOR MARCH
Next Article:DELTA AIR LINES REPORTS MARCH TRAFFIC
Topics:


Related Articles
DELPHI FINANCIAL GROUP REPORTS TIGER MANAGEMENT OWNERSHIP POSITION UNCHANGED
DELPHI FINANCIAL GROUP, INC. REPORTS SECOND 1992 ANNUITY AGREEMENT
DELPHI FINANCIAL GROUP, INC. REPORTS ON RAPID BOOK VALUE GROWTH IN MEETING WITH ANALYSTS
DELPHI FINANCIAL GROUP PROPOSED $85 MILLION SENIOR NOTES RATED 'BB+' BY FITCH -- FITCH FINANCIAL WIRE --
A.M. BEST CLARIFIES DELPHI FINANCIAL GROUP RATINGS
Delphi $85M Senior Debt Upgraded to 'BBB' By Fitch - Fitch Financial Wire -
DCR Reaffirms Reliance Standard Life Insurance Company First Reliance Standard Life Insurance Company Claims Paying Ability Rating at 'A+'
DCR Reaffirms the Ratings of Delphi Financial Group and Subsidiaries
Correction: DCR Reaffirms the Ratings of Delphi Financial Group and Subsidiaries
Delphi Announces Regular $.07 Per Share Cash Dividend.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters