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NWNL COMPANIES COMPLETES SALE OF CHARTWELL RE

 NWNL COMPANIES COMPLETES SALE OF CHARTWELL RE
 MINNEAPOLIS, March 6 /PRNewswire/ -- The NWNL Companies (NYSE: NWN)


today announced that it has completed the sale of one of its subsidiaries, Chartwell Re Corp., for approximately $71 million to an investor group led by Wand Partners Inc., and including Michigan Mutual Insurance Co.
 The transaction will not have a material effect on NWNL's first quarter reported earnings. However, it will increase the company's statutory capital by about $10 million.
 Chartwell Re Corp. is the parent of Chartwell Reinsurance Co., a property/casualty reinsurance company located in Stamford, Conn.
 NWNL President and Chief Executive Officer John G. Turner said, "NWNL is sharpening its focus on life and health insurance and annuities, and Chartwell Re was no longer the right strategic fit for us even though it is profitable. We can now concentrate greater financial and managerial resources on our principal operations. The proceeds of the sale will be used principally to retire long-term debt."
 Wand Partners is a private investment firm in which the principal limited partner is an affiliate of S.G. Warburg, a London-based international investment bank.
 The NWNL Companies is a Minneapolis-based holding company specializing in the life and health insurance and annuity business.
 -0- 3/6/92
 /CONTACT: Jan Pedersen of NWNL, 612-372-5623/
 (NWN) CO: NWNL Companies ST: Minnesota IN: INS SU:


AL -- MN005 -- 6237 03/09/92 09:08 EST
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Publication:PR Newswire
Date:Mar 9, 1992
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