SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
__________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 14, 1996
SUNAMERICA INC.
(Exact name of registrant as specified in charter)
Maryland 1-4618 86-0176061
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
1 SunAmerica Center, Los Angeles, California 90067-6022
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (310) 772-6000
ITEM 5. Other Events.
See Exhibit 99 to this Form 8-K
ITEM 7. Financial Statements, Pro Forma Financial Information and
Exhibits.
(c) Exhibits
Exhibit 99 SunAmerica Inc. Press Release issued November 14, 1996
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SUNAMERICA INC.
Date: November 14, 1996
By: /s/ Susan L. Harris
----------------------------
Susan L. Harris
Senior Vice President and
Secretary
Exhibit 99
SUNAMERICA SIGNS PRELIMINARY AGREEMENT
TO ACQUIRE JOHN ALDEN'S $5 BILLION ANNUITY BUSINESS
LOS ANGELES -- November 14, 1996 -- SunAmerica Inc. (NYSE: SAI) today
announced that it has signed an exclusive letter of intent regarding the
acquisition of John Alden Financial Corporation's annuity operations by
SunAmerica Inc.'s wholly owned subsidiary, SunAmerica Life Insurance Company.
The intended transaction would include a total of approximately $5 billion of
annuity reserves, including about $3.8 billion of reserves from John Alden
Life Insurance Company under a reinsurance contract and the purchase of John
Alden's New York life insurance company, John Alden Life Insurance Company of
New York, which has approximately $1.2 billion of annuity reserves.
The transaction is subject to the negotiation and execution of definitive
contracts that will include customary closing conditions, including all
required regulatory approvals.
John Alden Financial Corporation is an insurance holding company based in
Miami, Florida that, through its subsidiaries, is principally engaged in
providing group life and health insurance and managed care services.
SunAmerica Inc. is a diversified financial services company specializing in
retirement savings and investment products and services. At September 30,
1996, it held approximately $37 billion of assets, including $24 billion on
its balance sheet, more than $2 billion managed in mutual funds and private
accounts, and $11 billion under custody in retirement trust accounts.
SunAmerica Life Insurance Company is rated "A+" (Superior) by A.M. Best, "AA-"
(Excellent) by Standard & Poor's, "AA" (Very High) by Duff & Phelps, and "A2"
(Good) by Moody's.
