Insolvencies of ex-MRM subsidiaries balloon in 2006

By David Marchant

18 years ago

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Keywords

American Re Berkley Insurance Bermuda Insurance Market First Excess Reinsurance GE Re

Hannover Re Legion Insurance Liquidations & Insolvencies Lloyds Syndicate #53 Midwest Employers Casualty Company Mutual Risk Management Odyssey America Reinsurance Odyssey Re Swiss Re Life Company of America Swiss Reinsurance America Corp. Transatlantic Re Villanova Insurance

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The net insolvencies of two former operating subsidiaries of Bermuda-based Mutual Risk Management Ltd. rocketed from $334.3 million to $852.6 million in 2006, according to their liquidator.
The deficits of Legion Insurance Company and Villanova Insurance Company increased from $225.3 million to $614 million and from $109 million to $238.6 million, respectively, during the year.

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