I.U. INTERNATIONAL <IU> TO SELL INSURANCE UNITS
  I.U. International Co said it
  reached a preliminary agreement to sell the Hawaiian Insurance
  Cos to Hawaiian Electric Industries Inc. <HE>.
      Terms of the transaction were not disclosed, the company
  said.
      The transaction is subject to the execution of definitive
  agreements, certain governmental approvals and approvals by the
  boards of directors involved, I.U. International said.
      Hawaiian Electric said the planned purchase was part of its
  strategy to increase the company's investment in selected
  service industries in Hawaii, including financial services.