A SU(2)_H symmetric variant of Zee model of lepton flavor violation is presented and is shown to lead to neutrino transition magnetic moment of the order required to explain the solar neutrino deficit and the possible anticorrelation of solar neutrino flux with sunspot activity via VVO mechanism. The use of horizontal symmetry leads to totally degenerate neutrino states which may be combined to form a ZKM Dirac neutrino with naturally small mass.

Two-loop contributions to Majorana mass and transition magnetic moment in a gauge model not in conflict with decaying neutrino dark matter (DDM) hypothesis have been studied. Another variant of an earlier model [J Dhar and S Dev,Pramana — J. Phys.39 541 (1992)] consistent with the DDM hypothesis is proposed and is shown to lead to large enough neutrino magnetic moment and consistent with the phenomenological constraints on neutrino mass.