S.C. Federal Reinsurance Trust Action Settled, According to Recent Filing

COLUMBIA, S.C. - An action in which an insurer accused U.S. Bank National Association of breaching its duties as trustee of a reinsurance trust account has been settled, according to a recent filing in South Carolina federal court.

In a May 1 stipulation of dismissal with prejudice filed before Judge J. Michelle Childs of the U.S. District Court for the District of South Carolina, Companion Property & Casualty Insurance Co. and U.S. Bank National Association say they have settled their respective claims against each other.

Companion participated in a fronted insurance program with reinsurers Redwood Reinsurance SPC Ltd. and Dallas …