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N.Y. Insurance Companies Permitted to Invest in Israel Bonds

A domestic mutual or stock fire insurance or casualty insurance company is eligible under New Ylrk State laws, to invest up to 10 percent of its admitted assets in State of Israel bonds, according to a ruling by the State of New York Insurance Department made public here today. A ruling to this effect was handed down by Deputy Superintendent Raymond Harris in response to a question from the Citizens Casualty Company of New York.