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NY Discovers $48B In 'Shadow' Life Insurance Captive Deals

By Bibeka Shrestha (June 12, 2013, 1:06 PM EDT) -- A New York regulator said Wednesday it has uncovered $48 billion in dubious transactions that have allowed life insurers to sidestep the state's requirements for setting aside funds to cover policyholders' claims, as it called for an immediate nationwide moratorium on the transactions....

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