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INSURANCE

From Times Staff and Wire Reports

New Jersey Regulators Seize Insurer: State regulators seized New Jersey Life Insurance Co., ending a four-month dispute with the company, which regulators claim is insolvent. The Paramus-based insurer, which has 46,000 policies, had sought a trial to determine its fate. But the state Supreme Court refused to consider that request Wednesday, and the company was placed under state control after state Superior Court Judge Arthur Lesemann issued an order. State regulators claimed that the company has a $36-million deficit, while company officials claimed New Jersey Life has a $10-million surplus on assets of $161 million.


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