STORY FROM: Reinsurance & Arbitration

Lawsuit Accusing Banner Life of Shifting Debt to Reinsurers Nears Settlement

BALTIMORE — The parties in an action accusing Banner Life Insurance Co. of shifting its debt to offshore reinsurers in order to hide its “questionable” solvency have told a Maryland judge that they are close to settling.

According to a July 9 joint status report filed before Judge Richard D. Bennett of the U.S. District Court for the District of Maryland, the parties “have additional details to resolve before a motion for preliminary approval can be filed.”

“The agreement reached is a joint, class-wide settlement for both the instant case and Rich v. William Penn Life Insurance Co. of New ...

Associated Documents
Joint Status Report



Registered User Login

Username

Password


Related Conferences

No conferences scheduled at this time.




Full Archives

True