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Chiyoda Mutual Life Insurance Co.’s liabilities are estimated to have exceeded its assets by some 500 billion yen, about 15 times higher than its earlier publicized negative net worth of 34.3 billion yen, industry sources said Tuesday.

Its administrators plan to continue efforts to rebuild the failed life insurance company based on a reconstruction plan they will compile next month, with financial support from American International Group Inc., a major U.S. insurance company.

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