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October 14, 2004

Stock Insurers Would Gain Long-Sought Tax Relief In Bill

Stock life insurers would gain a major legislative victory and substantive tax savings through a provision added to business tax legislation that Congress was seen as passing before it recessed.

Sources say the provision's passage is expected to lead to a major merger and acquisition activity in the stock life industry as companies seek to take advantage of the 2-year window to escape a tax triggered only by a change in control.

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Posted by Tom Troceen