A adjudicator absitively that the Pacific Mutual Life Insurance Aggregation will booty over the First Basic Life Insurance Company, which was bedeviled in May 1991 afterwards the amount of its clutter band investments plunged. John Garamedi, the California Insurance Commissioner, recommended in April that Pacific Mutual, based in Newport Beach, booty over the San Diego-based First Capital, which has 250,000 holders of behavior and annuities.
Agreeing with Mr. Garamedi, Adjudicator Kurt Lewin of Los Angeles Superior Court chose Pacific Mutual over three added bidders: Shearson Lehman Brothers Inc., Transamerica Life Occidental and a accumulation led by the Leucadia National Corporation, a New York insurer. Pacific Mutual's plan will accommodate $50 actor in new basic and acquiesce policyholders to balance their absolute advance if they abide with the aggregation for bristles years.
Occidental Life Insurance Company Of California
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