GREAT WESTERN &lt;GWF> SELLS INSURANCE UNIT

  Great Western Financial
  Corp said it agreed to sell its John Alden Life Insurance Co
  and its affiliated operations for 280 mln dlrs to a
  newly-formed company onwed by the John Alden Management Group.
      General Electric Credit Corp delivered a commitment letter
  arranged by the GECC Capital Markets Group Inc for the
  financing.
      Great Western said the pre-tax gain on the sale will be
  approximately 65 mln dlrs, and after tax gain will be 
  approximately 15 mln.
  

