NY agency faults 17 life insurers for shifting claim risks to affiliates with lower reserves

  • by: MICHAEL VIRTANEN , Associated Press
  • Updated: June 12, 2013 - 5:40 PM

ALBANY, N.Y. — New York financial officials on Wednesday criticized 17 New York-based life insurers for shifting $48 billion of claim risks to affiliates elsewhere with lower reserve and collateral requirements.

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