Humana Completes Sale Of LTC Insurance Block

Humana Inc. (NYSE: HUM) has completed the previously announced sale of the stock of its wholly-owned subsidiary, KMG America Corporation (KMG), to Continental General Insurance Company (CGIC).

Continental is a Texas-based insurance company wholly owned by HC2 Holdings, Inc., a diversified holding company (NYSE: HCHC). KMG's subsidiary, Kanawha Insurance Company (KIC), includes Humana's closed block of non-strategic commercial long-term care insurance policies that serves approximately 29,300 policyholders.

Goldman Sachs & Co. acted as financial advisor to Humana. Locke Lord LLP acted as legal advisor to Humana. Cautionary Statement This news release includes forward-looking statements regarding Humana within the meaning of the Private Securities Litigation Reform Act of 1995.

When used in investor presentations, press releases, Securities and Exchange Commission (SEC) filings, and in oral statements made by or with the approval of one of Humana's executive officers, the words or phrases like "expects," "believes," "anticipates," "intends," "likely will result," "estimates," "projects" or variations of such words and similar expressions are intended to identify such forward-looking statements.

Keywords for this news article include: Business, Humana Inc., United States.

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