INSURANCE

Insurer Loses Round in SEC Case: A federal judge found evidence that a Texas firm broke securities laws in the sale of a life insurance policy’s death benefits to investors, regulators said. Last year, the Securities and Exchange Commission sued Life Partners Inc. of Waco, Tex. The SEC argued that Life Partners broke securities laws by repackaging the policies in such a way that they constituted investment contracts. U.S. District Judge Royce C. Lamberth ordered a preliminary injunction against Life Partners. Lamberth said that despite a two-year investigation, the SEC did not produce charges “that any investor, terminally ill patient or insurance company has been defrauded, misled or is in any way dissatisfied” with a settlement.