$100 Million Dispute Over Weather-Related Reinsurance Losses Dismissed

NEW YORK — A New York federal judge has dismissed with prejudice Mariah Re Ltd.’s lawsuit against American Family Mutual Insurance Co., ruling that the insurer did not improperly withdraw $100 million in reinsurance funds to cover losses arising from a 2011 storm.

On Sept. 30, Judge Richard J. Sullivan of the U.S. District Court for the Southern District of New York also dismissed with prejudice Mariah’s claims against a reporting agency and a risk consultant, ruling that they did not improperly issue and rely on a revised storm bulletin, which resulted in a larger reinsurance payout that left Mariah …