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January 22, 1992|From Times Staff and Wire Reports

MetLife Confirms Executive Life Deal: Metropolitan Life Insurance Co. agreed to take over much of the failed Executive Life Insurance Co. of New York in a deal regulators said will guarantee full payment to thousands of policyholders. MetLife, the nation's second-largest life insurer, confirmed reports surfacing Monday that it will pay at least $70 million--and potentially much more--to acquire $1.5 billion worth of Executive Life policies and annuities, New York insurance officials said.

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