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USLICO REPORTS TERMINATION AND LOSS ON A BLOCK OF MEDICAL BUSINESS

USLICO REPORTS TERMINATION AND LOSS ON A BLOCK OF MEDICAL BUSINESS
 ARLINGTON, Va., Feb. 3 /PRNewswire/ -- USLICO Corporation (NYSE: USC) announced that in connection with the termination of the major medical business written through an Ohio-based administrator, it will incur an estimated fourth quarter loss on this business of approximately $6.9 million on an after-tax basis. While the overall financial results of USLICO for the quarter ended Dec. 31, 1991, have not yet been determined, the company expects that the loss on this business will produce a net loss for the fourth quarter. However, the company expects to be profitable on the full year basis. The company believes there will be no further loss from this business.
 USLICO further announced that no new medical business is being sold. Coverage under most of the in force major medical policies will terminate on or before March 31, 1992. Further, USLICO's business relationship with the administrator has been terminated.
 USLICO recently announced that it has centralized responsibility for individual life sales and service in its principal subsidiary, United Services Life, and it anticipates its life insurance operations will continue to grow profitably.
 USLICO Corporation is an insurance holding company with total assets reported as of Sept. 30, 1991, of $2.9 billion, stockholders equity of $324 million and over $50 billion of life insurance in force.
 -0- 2/3/92
 /CONTACT: Shirley Sullivan, investor relations, USLICO Corporation, 703-875-3415/
 (USC) CO: USLICO Corporation ST: Virginia IN: INS SU: ERN


DC -- DC003 -- 5977 02/03/92 08:05 EST
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Publication:PR Newswire
Date:Feb 3, 1992
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