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Protective To Acquire Subsidiaries Of Irish Life & Permanent

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NU Online News Service, June 22, 5:15 p.m. – Protective Life Corp., Birmingham, Ala., says its subsidiary, Protective Life Insurance Company, has agreed to acquire Inter-State Assurance Company and First Variable Life Insurance Company from Ilona Financial Group Inc., for about $250 million in stock.

The transaction is expected to close in October. Regulatory approval is still pending. Ilona Financial is a subsidiary of Irish Life & Permanent P.L.C., Dublin.

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