Nation IN BRIEF : NEW JERSEY : State Takeover of Big Insurer Likely
From Times Staff and Wire Reports
Mutual Benefit Life Insurance Co. of Newark, N.J., the nation’s 18th-largest health and life insurer, is expected to ask New Jersey officials to take control of the financially troubled firm. Gov. James J. Florio hinted that a state takeover was imminent. Three rating companies have downgraded Mutual Benefit’s rating--a measure of an insurer’s ability to pay claims. Analysts are worried about the company’s real estate losses.
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
