Legion Insurance and Villanova Insurance insolvent by an estimated $334 m

By David Marchant

19 years ago

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Keywords

Bermuda Insurance Market Diane Koken Legion Insurance Company Liquidations & Insolvencies Mutual Risk Management

Villanova Insurance Company

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Two former operating subsidiaries of Bermuda-based Mutual Risk Management Ltd. had a combined net deficit of $334.4 million as of December 31, 2005, according to their liquidator.Legion Insurance Company and Villanova Insurance Company had deficits of $225.4 million and $109 million, respectively, stated their Statutory Liquidator, Pennsylvania Insurance Commissioner Diane Koken, in her report for the fourth quarter of 2005.

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