Cna To Sell Life And Group Insurance Units
(Tribune file photo / February 10, 2014) Maps Reuters 6:18 a.m. CST, February 10, 2014 CNA Financial Corp. said it wouldsell its life and group insurance business, on the same day thatparent Loews Corp. reported a bigger quarterly loss, hurtby impairment charges. CNA said it was selling the business, Continental AssuranceCo., to a subsidiary of Wilton Re Holdings Ltd, and was expectingto book an after-tax charge of about $220 million in the firstquarter of 2014. CNA said it expected net proceeds of about $615 million fromthe sale and a portion of this would be in the form of adividend from Continental.
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