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REHABILITATOR NAMED FOR FIDELITY MUTUAL LIFE INSURANCE COMPANY

 HARRISBURG, Pa., May 21 /PRNewswire/ -- State Insurance Commissioner Cynthia M. Maleski today announced the appointment of Thomas J. Knox of Philadelphia as special deputy rehabilitator for Fidelity Mutual Life Insurance Company (FML) of Radnor, Delaware County.
 As special deputy rehabilitator, Knox will manage the Commonwealth Court-ordered rehabilitation of FML, the fifth-largest life insurer based in Pennsylvania. The appointment is effective Monday, May 24.
 "We are fortunate to find someone with his unique blend of expertise, experience and commitment to public service," said Maleski. "His entrepreneurial savvy and sharp organizational skills will meet the challenges of this rehabilitation. I am pleased to have him on board.
 "Pennsylvania is a national leader in insurance rehabilitation, and we are confident that with Mr. Knox's appointment that prominence will continue," Maleski said.
 Currently, Knox is deputy mayor of Philadelphia, responsible for the city's Office of Management and Productivity.
 He is founder and former chief executive officer of several highly successful firms, including Knox Insurance Co., a reinsurance company doing business in 49 states; Preferred Benefits Corp., an insurance consultant group; Disc Systems Inc, a financial software firm; and Preferred Care of America, the first insured preferred provider organization of its kind in Pennsylvania.
 Knox is a Chartered Life Underwriter and Chartered Financial Consultant who has lectured and led seminars nationally and internationally in areas such as deferred compensation, employee stock ownership plans, managed health care and financial planning. His articles on corporate and estate planning, health care cost containment, employee benefit programs, flexible benefit plans and other topics have appeared in national professional publications.
 On Nov. 6, 1992, Commonwealth Court granted the request of the Insurance Department and Fidelity Mutual to place the financially troubled company into rehabilitation, which puts the firm under control of the department.
 Since that time, the Insurance Department has had a transition team at FML to oversee the company's day-to-day operations.
 /delval/
 -0- 5/21/93
 /CONTACT: Leslie Osborn of the Insurance Department, 717-787-3289/


CO: Pennsylvania Department of Insurance ST: Pennsylvania IN: INS SU:

MK -- PH030 -- 1296 05/21/93 15:51 EDT
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Publication:PR Newswire
Date:May 21, 1993
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