Lehman Brothers is heard preparing the next "Triple X" life insurance securitization, a $100 million-range deal set to close sometime this month, sources said. A triple-A wrap is expected.

The first of these deals hit the market last summer, also through Lehman, for the benefit of issuer First Colony Life, a subsidiary of GE Financial. First Colony came again in December. Both deals were $300 million in size.

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