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Life Settlement Broker Buys Golden Gateway Unit

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PolicyOptions L.L.C., a life settlement brokerage, has acquired the life settlement division of Golden Gateway Financial Inc.

The price of the deal was not disclosed.

Golden Gateway, Oakland, Calif., is keeping a division that sells reverse mortgages in the senior market.

PolicyOptions, Irvine, Calif., and Golden Gateway have worked together in the past, PolicyOptions says.

“We are bullish on the secondary market and have made definitive plans for continued growth in 2010,” Rick Johnson, president of PolicyOptions, says in a statement.