Security Life Amends Complaint Against Southwest Reinsure, INA

MINNEAPOLIS - A cedent has amended its complaint against Southwest Reinsure Inc., a group of offshore reinsurers and INA Trust in an effort to recover more than $1 million in trust account funds. Security Life Insurance Company of America v. Southwest Reinsure Inc., et al., No. 11-1358 (D. Minn.).

In its amended complaint filed April 4 in the U.S. District Court for the District of Minnesota, Security Life Insurance Company of America accuses the defendants of fraudulently transferring and distributing the trust account assets.

Southwest Reinsure Inc. (SRI) specializes in establishing offshore reinsurance companies, known "producer-owned reinsurance companies (PORCs)." SRI …