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CNA Will Retain Long Term Care Insurance Business

Wed, 08/09/2000 - 11:00pm — Karen Stevenson
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CNA, the nation's second largest commercial insurer, said that the process of exploring a sale of its life insurance businesses has been completed, and that they have decided to retain their individual life, long term care and retirement services businesses. They stated that they "decided not to sell these businesses for less than they are worth to CNA. We believe that it is in the best interests of CNA shareholders to retain these businesses." CNA will continue to explore the separate sale of its viatical settlements and life reinsurance businesses.

CNA, the nation's second largest commercial insurer, said that the process of exploring a sale of its life insurance businesses has been completed, and that they have decided to retain their individual life, long term care and retirement services businesses. They stated that they "decided not to sell these businesses for less than they are worth to CNA. We believe that it is in the best interests of CNA shareholders to retain these businesses." CNA will continue to explore the separate sale of its viatical settlements and life reinsurance businesses.