Greenlight Urges S.C. Court to Dismiss Lawsuit Accusing it Of Wrongfully Tapping Trust Agreement

COLUMBIA, S.C. – Greenlight Reinsurance Co. has asked a South Carolina federal court to dismiss a lawsuit filed by an insurer accusing Greenlight of wrongfully withdrawing funds from a trust agreement that had been established pursuant to a settlement of a reinsurance dispute between the parties.

In a Jan. 20 motion to dismiss filed in the U.S. District Court for the District of South Carolina, Greenlight contends that Madison Insurance Co. has failed to state a claim upon which relief can be granted and failed to join necessary parties.

Greenlight Re issued two one-year quota share reinsurance agreements to State …