STORY FROM: Reinsurance & Arbitration
Home Liquidator Files Amended Complaint Against Trygvesta, Cerberus in N.Y. Reinsurance Action
November 29, 2017
NEW YORK — The liquidator of The Home Insurance Co. has filed an amended complaint against reinsurers Trygvesta Forsikring A/S and Cerberus Holding Company LLC, seeking $224,886 allegedly due under three facultative reinsurance certificates.
In the Nov. 22 amended pleading filed in the U.S. District Court for the Southern District of New York, New Hampshire Insurance Commissioner Roger Sevigny alleges that pursuant to a reinsurance assumption agreement, Cerberus may be liable for Trygvesta’s reinsurance debt to Home.
Beginning in 1964, Home issued policies insuring Eli Lilly & Co., International Telephone and Telegraph Corp. and General Cable Corp.
The policies ...
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