Federal Insurance

Retail giant Sears, Roebuck and Co. and related companies have filed a complaint in Atlanta in which they are seeking hundreds of millions of damages against insurers in Bermuda and elsewhere concerning an alleged bid rigging scheme involving brokers Marsh

Three Bermuda-based insurers are being sued by Citigroup Inc. for allegedly failing to honor up to $100 million of claims concerning the settlement of litigation for the alleged mis-selling of financial products. Citigroup Inc., a Delaware corporation based in New York, as successor in interest to Associates First Capital Corporation, filed a civil complaint at the 164th District Court of Harris County, Texas on October 23, 2006, with the case being transferred to the U. S. District Court for the Southern District of Texas on November 17, 2006.

Three more former Enron officers have filed a complaint against insurers in Bermuda and elsewhere in an attempt to protect their directors and officers liability coverage.The latest action was filed at the U. S. District Court for the Southern District

Shrewsbury Underwriting Capital (Bermuda) Limited has been named as a defendant in civil complaint filed by HSBC USA Inc., f.k.a. Republic New York Corporation, and Republic New York Securities Corporation at the U. S. District Court for the Southern District