Executive Life May Get Better Bid, Officials Say
- Share via
State insurance regulators said Wednesday that they still believe that someone will better last week’s French-led rescue bid for Executive Life Insurance Co., but they refused to say who it might be.
“We are going to get whatever penny is available from any source,” said attorney Karl Rubinstein, special counsel to state Insurance Commissioner John Garamendi. “There are other interested bidders.”
Garamendi said last Wednesday that one additional buyer was very interested in state-seized Executive Life, and that three others had expressed some interest.
But he refused to identify them. He said he would let the potential investor reveal itself, something that hasn’t occurred in the week since the French bid was announced.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
