STORY FROM: Reinsurance & Arbitration
Trygvesta to Post $259,886 in Security in Reinsurance Dispute with The Home Liquidator
February 1, 2017
NEW YORK — In a dispute over reinsurance proceeds allegedly owed to the estate of The Home Insurance Co., reinsurer Trygvesta Forsikring A/S has agreed to post $259,886.13 in security, according to a recent court filing.
A Jan. 30 stipulation and order filed in the U.S. District Court for the Southern District of New York states that Tryg will post the security pursuant to New York Insurance Law Section 1213 by Feb. 10.
Tryg’s predecessor, Skandinavia Insurance Company Ltd., as a member of the Agency Managers Limited Reinsurance Pool, issued three facultative reinsurance certificates to Home. The certificates reinsured policies ...
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