INSURANCE
From Times Staff and Wire Reports
Executive Life Sale Gets Go-Ahead: Los Angeles Superior Court Judge Kurt Lewin gave final approval to the sale of failed Executive Life Insurance Co., allowing the state to go ahead with its rehabilitation plan for the company. The state Insurance Department now can close the sale of Executive Life’s junk bond portfolio and proceed with plans to revive a successor operating company, a department spokesman said. The deal, negotiated by Insurance Commissioner John Garamendi, involves a group of investors led by Credit Lyonnais affiliate Altus Finance and a French insurer.
