In Brief: Ohio Insurer Seeks An In-State Deal

December 07, 1999, 2:00 a.m. EST 1 Min Read

Cincinnati-based Western and Southern Life Insurance Co. said it is trying to buy the troubled Integrity Life Insurance Co.

Integrity Life is an Ohio-domiciled subsidiary of Louisville, Ky.-based Arm Financial Group.

Integrity has been under Ohio Insurance Department administration since late August after disclosing that it could not pay some institutional claims. Including its New York-based subsidiary, National Integrity Life Insurance Co., Integrity has $4.9 billion of assets.

Western and Southern said last week that it has not signed a deal.

Standard & Poor's said in a release that Integrity has completely liquidated the guaranteed investment contracts that caused the claims-paying problems.

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