STORY FROM: Reinsurance & Arbitration

N.Y. Federal Judge Confirms Clarified Arbitration Award in Reinsurance Dispute

NEW YORK — A New York federal judge has confirmed a clarified arbitration award issued in a dispute involving Allianz Life Insurance Company of North America’s reinsurance of life insurance policies.

In a Dec. 17 order, Judge Jesse M. Furman of the U.S. District Court for the Southern District of New York confirmed a March 30, 2018, final award, which was clarified on Nov. 11.

Allianz Life Insurance Company of North America agreed to reinsure certain policies issued by Park Avenue Life Insurance Co.

A dispute arose between the parties after Allianz entered into an agreement with regulators to pay ...

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