HAWAIIAN ELECTRIC <HE> TO BUY HAWAIIAN INSURANCE
Hawaiian Electric Industries said it
has entered a letter of intent to buy the Hawaiian Insurance
Companies.
    The transaction is subject to a definitive agreement, and
government and board approvals.
    The Hawaiian Insurance Companies ad assets at the end of
1986 of 137.4 mln dlrs and earned premiums of 46.1 mln dlrs.
    Hawaiian Electric said it plans to operate the comapny,
which has 226 employees, with current management.
 Reuter
