STORY FROM: Reinsurance & Arbitration
Gen Re Appealing Conn. Judge’s Confirmation of $18 Million Arbitration Award
August 18, 2017
HARTFORD, Conn. — General Re Life Corp. is appealing a Connecticut federal judge’s confirmation of a clarified arbitration award that requires it to pay up to an additional $18 million in reinsurance proceeds to Lincoln National Life Insurance Co.
According to General Re’s Aug. 14 notice of appeal, it is also challenging to the 2nd Circuit U.S. Court of Appeals the Connecticut federal court’s denial of its motion for reconsideration.
Gen Re reinsured various individual life insurance policies written by Lincoln under an “Automatic Self-Administered YRT Reinsurance Agreement” that was effective on Jan. 1, 2002.
Under the terms of the ...
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