The amendment allowed banks to establish separate insurance subsidiaries offering such products.

But the company said that the insurance subsidiaries were in no danger.

Last year its 15 insurance subsidiaries collected $5.6 billion in premiums throughout the country.

Other sources said that the most likely event in the near future involving Hutton is the sale of its insurance subsidiary.

This stock was mainly held by the insurance subsidiaries.

Monarch Capital's insurance subsidiary was, however, considered to be in good health.

The share price rose along with excellent investment results, but also benefited from the successful operation of insurance subsidiaries.

Phil Ryan, the chief financial officer, said the correction was not a sign of general control problems at the bank's insurance subsidiary.

The failure of the insurance subsidiaries was the biggest in United States history.

Mr. Rakich had been the head of the company's largest insurance subsidiary.