INSURANCE

Executive Life/RTC Deal Rejected: A federal judge has turned down a proposed settlement of a claim filed by the Resolution Trust Corp. over money the thrift cleanup agency says it deserves from the collapsed Executive Life Insurance Co. The RTC would have received $5 million and a share of proceeds in other Executive Life claims, such as those against former junk-bond financier Michael Milken, an agency spokeswoman said. But Los Angeles Superior Court Judge Kurt Lewin criticized the settlement as too favorable to the RTC. The RTC filed a huge $7.5-billion complaint in March, alleging that Executive Life contributed to the collapse of several thrifts by conspiring with Milken to sell them risky junk bonds.