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As banks spurn risk, insurers emerge as financial supermarkets

But they may not have the loan-underwriting expertise of long-time lenders

New York

WHEN all else fails, lend.

That's the strategy of some of the biggest US insurers as they seek higher returns in an investment universe where buying bonds sometimes means guaranteed losses.

The largest US banks are constrained by post-2008 rules that make it tougher...

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