Va. Sets Oct. Hearing On Proposed Sale Of Insurer

RICHMOND, Va. (AP) — Virginia regulators plan to hold a hearing in October on the proposed sale of Shenandoah Life Insurance's group insurance business to Assurant Inc.

The Virginia State Corporation Commission placed the struggling Roanoke insurer in receivership in February.

According to the SCC's scheduling order, Assurant and affiliate Union Security Insurance Company would acquire Shenandoah's group life, accidental death and dismemberment, dental, short-term and long-term disability, and vision insurance lines.

The hearing is set for Oct. 7 at the commission's office in Richmond. However, the commission says the hearing will be canceled if no objections are filed.