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Standard Management Announces Regulatory Approval for Sale of Standard Life and Resignation of the Company's President/Chief Financial Officer.

Publication: PR Newswire
Publication Date: 31-MAY-05
Format: Online
Delivery: Immediate Online Access

Article Excerpt
INDIANAPOLIS, May 31 /PRNewswire-FirstCall/ -- Standard Management Corporation ("Standard Management" or the "Company") announced today that the Indiana Department of Insurance has issued an order approving the sale of its life insurance subsidiary, Standard Life Insurance Company of Indiana, to Capital Assurance Corporation. The approval by the Department of Insurance followed a public meeting held by the Department of Insurance on the proposed transaction on May 20, 2005. As previously announced, the proposed sale was approved by the Company's shareholders on May 18, 2005.

(Logo: http://www.newscom.com/cgi-bin/prnh/20010416/STANDARDLOGO )

The sale...

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