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ITT HARTFORD TO ACQUIRE LINCOLN NATIONAL'S LARGE GROUP ACCOUNTS

 ITT HARTFORD TO ACQUIRE LINCOLN NATIONAL'S LARGE GROUP ACCOUNTS
 SIMSBURY, Conn., Feb. 27 PRNewswire/ -- The Lincoln National Life Insurance Co. and ITT\Hartford Life Insurance Companies have signed an agreement for the acquisition of a portion of Lincoln National's group life and health insurance business.
 Financial details of the agreement were not disclosed.
 Under the agreement, ITT Hartford will acquire certain large-case national accounts of Lincoln National's managed health care indemnity business not included in a transaction involving Great-West Life & Annuity Co. of Englewood, Colo., earlier this year. Also included in the Lincoln National-ITT Hartford agreement are more than 200 life and health cases.
 "This transaction melds with ITT Hartford's strategic direction of increasing our presence in the medical insurance and services business while allowing us to build on our strong group life insurance business," said Larry K. Lance, executive vice president and director of ITT Hartford's employee benefits division. "It's also important to us that the transaction involves a select group of policyholders for whom we could provide as high a level of quality service as we provide our existing clients."
 In January, Lincoln National announced it was selling and transferring most of the business in its Managed Health Care Group in transactions involving Great-West Life and TakeCare Inc., of Concord, Calif. Those agreements covered Lincoln National's managed health care business as well as a majority of its indemnity business. The agreement with TakeCare covers the sale of Lincoln National's health maintenance organizations (HMOs). Lincoln National is retaining its affiliate that specializes in small-group coverage, Employers Health Insurance Co. of Green Bay, Wis.
 Lincoln National Life Insurance Co. is an affiliate of Lincoln National Corp. (NYSE: LNC), which is the nation's seventh largest publicly held insurance holding company. Lincoln National, which is headquartered in Fort Wayne, Ind., had 1991 assets of $34 billion and revenues exceeding $9.0 billion.
 ITT Hartford Life Insurance Companies include the individual life insurance, employee benefits and asset management operations of ITT\Hartford Insurance Group, one of the nation's oldest and largest multi-line insurance and financial services operations. ITT Hartford, a subsidiary of ITT Corp. (NYSE: ITT), also markets a wide range of property-casualty coverages. Member companies include Hartford Life Insurance Co. and Hartford Life and Accident Insurance Co.
 -0- 2/27/92
 /CONTACT: Joe Fazzino of ITT Hartford, Simsbury, 203-843-8180 (office) or 203-489-0055 (home); or Bob Jones of Lincoln National, 219-455-3208 (office)/
 (LNC ITT) CO: ITT Hartford Insurance Group; Lincoln National Life Insurance SU: Connecticut, Indiana IN: INS SU: TNM


EG-DD -- NE007 -- 3361 02/27/92 14:59 EST
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Publication:PR Newswire
Date:Feb 27, 1992
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