Signify Insurance Ltd.: License Revocation
Press Release by the Bermuda Monetary Authority that it has "cancelled the insurance registration of Signify Insurance Ltd., a Class 1 insurer, for breaches of the Insurance Act 1978".
SEY Re Ltd.: License Revocation
Public Notice by the Seychelles Financial Services Authority that it has revoked the insurance license of SEY Re Limited.
AIG Europe SA v. Gerard McCaughey et al: Complaint
Complaint in AIG Europe SA, as subrogee of Irish Banking Resolution Corporation Ltd. (in Special Liquidation), of Luxembourg, formerly known as Anglo Irish Banking Corporation Limited v. Gerard McCaughey and Sophie McCaughey, both residents of Los Angeles County, California, at the U. S. District Court for the Central District of California.
Ally Financial Inc. v. Markel Bermuda Ltd. et al: Notice of Removal
Notice of Removal, including a copy of the complaint in which "Ally seeks coverage under excess bankers professional liability insurance policies issued by Defendants for a settlement under which Ally agreed to pay $87,500,000 and forgive $700 million in loan debt", by U.S. Specialty Insurance Company in Ally Financial Inc. v. U.S. Specialty Insurance Company, Illinois National Insurance Company, and Markel Bermuda Ltd., of Bermuda, at the U. S. District Court for the District of Delaware.
Deutsche Bank Securities Inc. v. 683 Capital Partners LP et al: Complaint
Complaint alleging fraud involving "a $725 million term loan facility" by entities in Bermuda, British Virgin Islands, Canada, Cayman Islands, Ireland, and USA in Deutsche Bank Securities Inc. v. 683 Capital Partners LP, Candlewood Investment Group LP, Candlewood Financial Opportunities Fund LLC, Candlewood Financial Opportunities Master Fund LP, Candlewood Special Situations Master Fund Ltd., CWD OC 522 Master Fund Ltd., Flagler Master Fund SPC Ltd., Corbin Capital Partners LP, Corbin Opportunity Fund LP, Fifth Street Station LLC, Highbridge Capital Management LLC, Highbridge International LLC, Highbridge Tactical Credit & Convertibles Master Fund LP, Lincoln Square Funding ULC, Tennenbaum Capital Partners LLC, Tennenbaum Heartland Co-Invest LP, Tennenbaum Senior Loan Fund II LP, Tennenbaum Senior Loan Fund V LLC, Tennenbaum Special Situations Fund IX LLC, Tennenbaum Special Situations Fund IX-C LP, Tennenbaum Special Situations Fund IX-O LP, Apollo Global Management Inc., Apollo Global Management Inc., Apollo Capital Management LP, Apollo A-N Credit Fund (Delaware) LP, Apollo Credit Strategies Master Fund Ltd., Baldr Mason Fund Inc., BlackRock Financial Management Inc., Cadbury Hedge Fund Alternatives, K Special Opportunity Fund LP, Sainsbury's Credit Opportunities Fund Ltd., Investment Partners IV (A) LLC, BMO Funds, Inc. - BMO Alternative Strategies Fund, Cavello Bay Reinsurance Limited, Cerberus Capital Management LP, Cerberus Institutional Partners VI LP, Commonwealth of Pennsylvania Treasury Department, Commonwealth of Pennsylvania Treasury Department - Tuition Account Program, Cyrus Capital Partners LP, Crescent 1 LP, Canary SC Master Fund LP, CRS Master Fund LP, Cyrus Capital Fund Partners, Cyrus Opportunities Master Fund Ltd., Cyrus Opportunities Master Fund II, Cyrus Select Opportunities Master Fund Ltd., Elliott Investment Management LP, Elliott Associates LP, Elliott Capital Advisors LP, Manchester Securities Corp., Empyrean Capital Partners LP, Empyrean Investments LLC, Fort George Investments, LLC, Greenlight Capital LP, Greenlight Capital (Gold) LP, Greenlight Capital Qualified LP, Greenlight Capital Offshore Master (Gold) Ltd., Greenlight Capital Offshore Partners, Greenlight Reinsurance Ltd., JMB Capital Partners Master Fund LP, Kaiser Permanente Group Trust, KTRS Credit Fund LP, Luxor Capital Group, Luxor Capital LLC, Mangrove Partners, The Mangrove Partners Master Fund Ltd., Marathon Asset Management LP, Marathon Court Square LP, Marathon Credit Dislocation Fund LP, Marathon Special Opportunities Master Fund Ltd., Marathon Liquid Credit Long Short Fund, Marblegate Asset Management LLC, Marblegate Special Opportunities Master Fund LP, P Marblegate Ltd., Neuberger Berman Investment Funds Plc, Neuberger Berman Advisers Management Trust - Absolute Return Multi-Manager Portfolio; Neuberger Berman Alternative Funds - Neuberger Berman Absolute Return Multi-Manager Fund; Penteli Master Fund Ltd., Privilege Underwriters Reciprocal Exchange, PURE Insurance Company, Sound Point Capital Management LP, Sound Point Beacon Master Fund LP, Sound Point Credit Opportunities Master Fund LP, Sound Point Montauk Fund LP, Sound Point Senior Floating Rate Master Fund LP, Sound Point Floating Rate Fund, A series of Taylor Insurance Series LP; and Relative Value–Long/Short Debt, A Series of Underlying Funds Trust at the Supreme Court of the State of New York, County of New York.
Atlas Financial Holdings Inc.: ‘Scheme of Arrangement’ Petition
Petition for the Court's sanction of a Scheme of Arrangement in the matter of Atlas Financial Holdings Inc., described as "a holding company in the commercial automobile insurance sector in the United States, with a niche market orientation and focus on insurance for the "light" commercial automobile sector including taxi cabs, non-emergency paratransit, limousine/livery and business auto", at the Grand Court of the Cayman Islands.
HWH Realty Holdings LLC v. Anthony Belisle: Complaint
Complaint "to recover damages from Belisle for its losses of nearly $20 million arising out of its June 2017 investment in the Limited Diversified Arbitrage Fund, a fund managed by Markel CATCo Investment Management Limited, which employed Belisle as its Chief Executive Officer" alleging fraud involving a Bermuda entity in HWH Realty Holdings LLC v. Anthony Belisle at the U. S. District Court for the Middle District of Florida.
Ally Financial Inc. v. Markel Bermuda Ltd. et al: Complaint
Complaint in Ally Financial Inc. v. U.S. Specialty Insurance Company, Illinois National Insurance Company, and Markel Bermuda Ltd. at the Superior Court of the State of Delaware.
AXA Seguros SA de CV v. St. Vincent Medical Center et al: Discovery Application
Application by AXA Seguros SA de CV, described as "a Mexican insurance company and a subsidiary of AXA S.A., the French parent company of one of the largest insurance groups in the world", to take discovery from St. Vincent Medical Center and Cedars-Sinai Medical Center for use in legal proceedings in Mexico involving Irma Gomez Pruneda, filed at the U. S. District Court for the Central District of California.
Bermuda ship insurer SIGCo seeks $5.6M from Cayman oil tanker owner struck off 10 years ago
Bermuda-domiciled Shipowners Insurance and Guaranty Company Ltd., from which the U.S. Department of Justice has demanded $4.4 million in damages for the grounding of an oil tanker, is seeking to recover the amount, plus $1.2 million in fees and expenses, from a shipping firm - Margara Shipping Ltd. - that was struck off the Cayman Islands Companies Register nearly 10 years ago.
Margara Shipping Ltd.: Directors
Director Details for Margara shipping Ltd., obtained from the Cayman Islands General Registry on November 8th, 2021.
Shipowners Insurance and Guaranty Company Ltd. v. Margara Shipping Ltd.: Winding Up Petition
Winding Up Petition involving a claim for $4.4 million in Shipowners Insurance and Guaranty Company Ltd., of Bermuda v. Margara Shipping Ltd., of the Cayman Islands, at the Grand Court of the Cayman Islands.
S3 Assurance Company: Directors
Director Details for S3 Assurance Company, obtained from the Cayman Islands General Registry on November 5th, 2021.
Keith Harrell v. S3 Assurance Company et al: Writ of Summons
Writ of Summons in Keith Harrell v. S3 Assurance Company, of the Cayman Islands; S3 Management Group LLC, of Texas, and Jared Smith, of Texas, at the Grand Court of the Cayman Islands.
A.B. Binxiang Zhao v. Fortitude Reinsurance Company Ltd. et al: Writ of Summons
Writ of Summons in A.B. Binxiang Zhao, of South Korea v. Fortitude Reinsurance Company Ltd., James Bracken, Amanda Stewart, James West, and Valerie Smeshko at Bermuda Supreme Court.
Bermuda’s Gregory Tolaram & associates declared ‘unfit’ by Cayman regulator over Alpha Re collapse
Five businessmen in the Bahamas, Bermuda, Canada, and United States have been declared "not fit and proper" by the Cayman Islands Monetary Authority for their conduct regarding captive insurer Alpha Re, which collapsed nearly four years ago and has been accused of perpetrating a $165 million fraud.
Alpha Re Ltd.: Directors
Director Details for Alpha Re Limited, obtained from the Cayman Islands General Registry on October 22nd, 2021.
Alpha Re Ltd.: License Revocation
Public Notice by the Cayman Islands Monetary Authority that it has revoked the insurer's license of Alpha Re Limited for regulatory breaches.
The Brink’s Company v. Chubb European Group Ltd. et al: Complaint
Complaint for damages of $23 million regarding coverage under the "Chubb Elite Fraudprotector policy" following an alleged fraud by one of the plaintiff's employees in The Brink's Company, of Virginia, described as "the world's largest cash management company" v. Chubb European Group Ltd. and Lloyd's Underwriters, both of England, at the U. S. District Court for the Eastern District of Virginia.
Estate of Martin Zawatsky v. Corry Capital Advisors LLC et al: Complaint
Complaint for "recovery of insurance proceeds due to lack of insurable interest" in Estate of Martin A. Zawatsky, by its Executor, Marc Zawatsky v. Corry Capital Advisors LLC, of Delaware; CCA Life Settlements Sàrl, of Luxembourg, and CCA Life Settlements Fund FCP-SIF, of Luxembourg, at the U. S. District Court for the Southern District of Florida.
Century Insurance Agency Ltd. v. MWM Financial Services Group Ltd.: Claim Form
Claim Form alleging "breach of an investment agreement" in Century Insurance Agency Limited v. MWM Financial Services Group Limited at the British Virgin Islands High Court.
Amid $3B investor losses & regulatory inquiries, Markel CATCo’s Bermuda insurance firms seek to restructure
Against a backdrop of more than $3 billion of investor losses, investor litigation, and regulatory "inquiries" in the US and Bermuda, four Bermuda firms affiliated with the US-based Markel Corporation insurance group have gone into provisional liquidation as part of an attempted restructuring.
Markel CATCo Reinsurance Fund Ltd. et al: Chapter 15 Petition (Bermuda)
Chapter 15 Petition for Recognition of a Foreign Main Proceeding in Bermuda by Simon Appell, of England, and John McKenna, of Bermuda, as the Foreign Representatives of Markel CATCo Reinsurance Fund Ltd., CATCo Reinsurance Opportunities Fund Ltd., Markel CATCo Investment Management Ltd., and Markel CATCo Re Ltd., filed at the U. S. Bankruptcy Court for the Southern District of New York.
Premier Assurance Group SPC Ltd., Labuan Branch: Liquidation Notice
Public Notice by Labuan Financial Services Authority that the Labuan branch of Cayman Islands-domiciled Premier Assurance Group SPC Ltd. has gone into official liquidation.
Germany v. Rolf Jerke et al
Application for the appointment of a Commissioner to collect evidence from Life Partners Inc. - pursuant to a request for judicial assistance from Germany - for a criminal investigation into Rolf Jerke and Dr. Uwe Schilling for suspected embezzlement involving viaticals settlements.
Markel CATCo Investment Management Ltd.: Winding Up Petition
Winding Up Petition in the matter of Markel CATCo Investment Management Ltd. at Bermuda Supreme Court.
Markel CATCo Reinsurance Fund Ltd.: Winding Up Petition
Winding Up Petition in the matter of Markel CATCo Reinsurance Fund Ltd. at Bermuda Supreme Court.
Great Lakes Insurance SE v. Daya Ltd.: Complaint
Complaint in Great Lakes Insurance SE, of Germany v. Daya Ltd., of the Cayman Islands, at the U. S. District Court for the Southern District of Florida.
VL Assurance (Bermuda) Ltd. et al v. Jason Sugarman et al: Writ of Summons
Generally Indorsed Writ of Summons alleging fraud in VL Assurance (Bermuda) Ltd. (in Liquidation) and Valor Management Ltd. (in Liquidation) v. Jason Sugarman, of Los Angeles, CA; Devon Archer, of New York, NY, and Hugh Dunkerley, of Huntington Beach, CA, at Bermuda Supreme Court.
Endurance Services Ltd. et al v. Westfield Insurance Company et al: Complaint
Complaint that "arises from Westfield’s mass hiring (colloquially known as a "lift-out") of a group of employees from Sompo International to join Westfield’s new specialty insurance arm, Westfield Specialty, in direct competition with their former employer" in Endurance Services Limited, of Delaware, and Sompo International Holdings Ltd., of Bermuda v. Westfield Insurance Company and Westfield Specialty Inc., both of Ohio, at the U. S. District Court for the Southern District of New York.
Oak Trust (Guernsey) Ltd. v. William Dewsall: Re-Amended Complaint
Re-Amended Complaint alleging fraud involving Gable Holdings Inc., of the Cayman Islands, and Gable Insurance AG, of Liechtenstein, in Kevin Alcock, Corita Metelerkamp, both of Surrey, England; Oak Trust (Guernsey) Limited, of Guernsey; Baytree Group Holdings Limited, Morvale Company Limited, Aggaris Investments Limited, all of the British Virgin Islands; Christopher Lawrance, Roy Campbell, both of South Africa, and CriSeren Investments Limited, of Wales v. William Dewsall, of London, England, at the High Court for England and Wales.
PVP Aston LLC et al v. Financial Structures Ltd. et al: Complaint
Complaint alleging "the totality of the FSL RVI regime of "insurance" was not insurance at all, but rather a sophisticated financial scam to benefit FSL and a horrendous detriment to the Insureds and their principals" in PVP Aston LLC, f.k.a. RA2 Aston LP; RX Fredericksburg Investors LLC, RA2 Muskegon LLC, and ACA FSL Holdingco LLC, all of Delaware v. Financial Structures Limited, of Bermuda; Aston RA-357 LLC, Fredericksburg RA-100 LLC, and Muskegon RA-357 LLC, all of Delaware, at the Superior Court of the State of Delaware, New Castle County.
Best Meridian Insurance Company et al v. Lake Cecile Resort Inc. et al: Complaint
Complaint in Best Meridian Insurance Company and Best Meridian International Insurance Company SPC, of the Cayman Islands v. Lake Cecile Resort Inc., CCH FL 2 LLC, Citrus Capital Holdings LLC, Florida Department of Revenue, Keys Funding LLC – 1019, Keys Tax Funding LLC – 19, Kissimmee Utility Authority, Osceola County, a political subdivision of the State of Florida; Bruce Vickers, Osceola County Tax Collector, Premier Elevator Company Inc., Sunbelt Rentals, Inc., TLGFY, LLC, J.T. Shaw, Inc., and Tohopekaliga Water Authority at the U. S. Bankruptcy Court for the Middle District of Florida.
Northstar Financial Services (Bermuda) Ltd. et al: ‘Segregated Accounts’ Judgment
Judgment regarding segregated accounts in the matter of Northstar Financial Services (Bermuda) Ltd. and Omnia Ltd., in Provisional Liquidation, at Bermuda Supreme Court.
AmTrust North America Inc. v. Signify Insurance Ltd. et al: Complaint
Complaint alleging breach of contract in AmTrust North America Inc., on behalf of Technology Insurance Company Inc. and Security National Insurance Company v. Employers HR LLC, described as a Florida company based in New York, and Signify Insurance Ltd., of Bermuda, at the U. S. District Court for the Southern District of New York.
Labuan FSA Enforcement Actions: August 18, 2021
Enforcement Actions taken by Labuan Financial Services Authority on Labuan Licensed Entities, dated August 18th, 2021.
Labuan FSA Business Restrictions: August 16, 2021
Business Restrictions on Labuan Licensed Entities by Labuan Financial Services Authority, dated August 16th, 2021.
Allianz Life Bermuda Ltd.: $1.7M Fine
Press Release by the Bermuda Monetary Authority announcing that it has imposed "civil penalties" totaling $1.7 million on Allianz Life Bermuda Limited for regulatory breaches, including the Proceeds of Crime (Anti-Money Laundering and Anti-Terrorist Financing Supervision and Enforcement) Act 2008, and that the company has agreed to go into liquidation. Editor's Note: Research by OffshoreAlert showed that, on the Allianz Group's website, the address for Allianz Life Bermuda Limited is given as "105, Allianz SNA Bldg 56, Jisr el Bacha Hazmieh Beirut, Lebanon P.O.Box: 16-6516".
Allianz Life Bermuda fined $1.7M & ceases operations after investigation by Bermuda regulator
Allianz Life Bermuda Limited, a Bermuda company that was operated from Lebanon in the Middle East, has been fined $1.7 million by the Bermuda Monetary Authority for regulatory breaches and agreed to go into liquidation.
Premier Assurance Group SPC Ltd. v. Premier Assurance Segregated Portfolio Puerto Rico SAP et al: Originating Summons
Originating Summons in Premier Assurance Group SPC Ltd. (in Official Liquidation) v. Providence Insurance Company I.I., for and on behalf of Premier Assurance Segregated Portfolio Puerto Rico SAP, of Puerto Rico; Premier Assurance Group LLC, of the USA, and Sable Trust Limited, of the British Virgin Islands, as Trustee of the Premier Trust, at the Grand Court of the Cayman Islands.
Taysun Corporate Services Ltd.: License Revocation
Public Notice by the Mauritius Financial Services Commission that it has revoked "the Management License and the Approval to act as Captive Insurance Agent" of Taysun Corporate Services Ltd. for regulatory breaches. Editor's Note: Research by OffshoreAlert at the Mauritius Corporate and Business Registration Department showed that Taysun Corporate Services Ltd. was incorporated in Mauritius on February 11th, 2010, its sole director is Sundara Rajen Sooben and its sole shareholder is Álvaro de Oliveira Madaleno Sobrinho, of Angola.
ACE American Insurance Co. v. University of Ghana: Petition to Confirm Arbitration Award
Petition to Confirm Arbitration Award for $165 million in ACE American Insurance Company v. University of Ghana at the U. S. District Court for the Southern District of New York.
Nicholas Cruz: Regulatory Settlement Agreement
News Release by the Gibraltar Financial Services Commission announcing it has entered into a "Regulatory Settlement Agreement" with Nicholas Cruz, who was a non-executive director of Enterprise Insurance Company Plc. "The GFSC has not made any adverse findings in relation to Mr Cruz's integrity," stated the regulator.
Nicholas Cruz & Gibraltar FSC: Joint Statement on Defamation Claim
Joint Statement by the Gibraltar Financial Services Commission and Nicholas Cruz regarding a defamation claim by Cruz against the GFSC regarding the regulator's news release on October 26th, 2016 regarding Enterprise Insurance Company Plc, of which Cruz was a non-executive director.
Fort Worth Employees’ Retirement Fund v. James River Group Ltd. et al: Class Action Complaint
Class Action Complaint alleging securities fraud regarding "a new type of insurance policy that covered Rasier LLC, a subsidiary of the ride-sharing company Uber Technologies, Inc" in Employees' Retirement Fund of the City of Fort Worth, d.b.a. Fort Worth Employees' Retirement Fund v. James River Group Holdings Ltd., described as "a Bermuda-based holding company that owns and operates a group of specialty insurance and reinsurance companies"; Robert P. Myron, J. Adam Abram, Frank N. D'Orazio, and Sarah C. Doran at the at the U. S. District Court for the Eastern District of Virginia.
Annuity and Life Reassurance v. Multivir, Inc.: Complaint
Complaint alleging failure to repay $4.3 million in loans in Annuity and Life Reassurance, of Bermuda v. Multivir, Inc., of Delaware, at the U. S. District Court for the District of Delaware.
Universal Life Insurance Company v. Global Growth Holdings Inc. et al: Complaint
Complaint that "arises out of a massive fraudulent scheme devised by Defendant Greg E. Lindberg and co-conspirators" and allegedly involved companies in Bermuda, Cayman Islands, Ireland, Malta, and the USA in Universal Life Insurance Company v. Global Growth Holdings Inc., Eli Global LLC, Greg E. Lindberg, UBS Financial Services Inc., Treatment Resources of Margate Inc., Alpine Capital LLC, Itech Funding LLC, Standard Financial Limited, of Malta; Academy Financial Assets LLC, Atlas Financial Investments LLC, Capital Asset Management I LLC, Global Insurance Capital LLC, Standard Advisory Services Ltd., of Malta; Triton Financial Limited, of Ireland; Hutchison Law Group PLLC, Satori Waters LLC, CSI Interco LLC, Forsyth LLC, Kite Asset Management Inc., Carnation Three LLC, Flowery Branch LLC, Goldman Sachs Bank USA, Morgan Stanley Senior Funding LLC, Verdesian Life Sciences LLC, Goldman Sachs Lending Partners LLC, Credit Suisse AG Cayman Islands Branch, AGH Parent LLC, Daisy Seven LLC, Dahlia Ten LLC, Tybee Island Asset Management Inc., Augusta Asset Management Inc., Pershing LLC, Macon LLC, Parallel Capital Assets LLC, Capital Asset Management II LLC, Standard Investment Capital Ltd., of Malta; New England Capital LLC, Global Bankers Insurance Group LLC, RevolverCap Partners Fund LP, Capital Assets Management III LLC, BLH Capital LLC, Netherlands Insurance Holdings Inc., Iron City Asset Management Inc., Hampton Asset Management Inc., Jackson Asset Management Inc., Chris Herwig, Bryn Mawr Trust Company, Begonia Eight LLC, CBI Group LLC, CBIG Capital LLC, and CBIG Holdings Inc. at the U. S. Bankruptcy Court for the Southern District of New York.
Premier Assurance Group SPC Ltd.: Directors (Cayman Islands)
Director Details for Premier Assurance Group SPC Ltd., obtained from the Cayman Islands General Registry.
Insigneo Financial Group v. Premier Assurance Group SPC et al: Complaint
Complaint by "a disinterested stakeholder" that "seeks the Court's assistance in resolving ownership rights of rival claimants to the same assets", specifically $29 million, in Insigneo Financial Group LLC, of Florida v. Premier Assurance Group SPC Ltd., of the Cayman Islands, and Premier Assurance Group LLC, of Florida, at the U. S. Bankruptcy Court for the Southern District of Florida.
USA v. Aon Plc et al: Antitrust Complaint
Antitrust Complaint alleging "Aon's proposed acquisition of WTW would combine two of the three largest insurance brokers in the world. It would eliminate substantial head-to-head competition and likely lead to higher prices and less innovation, harming American businesses and their customers, employees, and retirees" in USA v. Aon Plc and Willis Towers Watson Plc, both described as Irish companies based in England, at the U. S. District Court for the District of Columbia.
