Inter-Ocean Reinsurance

Assurant sues Inter-Ocean Re for $20 million

March 19, 2009

Bermuda based finite risk reinsurer Inter Ocean Reinsurance Company Ltd., which has been in run off since 2005, is being sued for $20 million by four subsidiaries of U. S. Fortune 500 company Assurant, Inc. The complaint against Inter Ocean

Zurich Financial penalized $26 m for Bermuda-based finite risk alleged fraud

December 18, 2008

Zurich Financial Services, of Switzerland, has agreed to pay a $25 million penalty, plus $1 million in disgorgement, for participating in an allegedly fraudulent finite risk arrangement involving its Bermuda officer and two Bermuda reinsurers, Inter Ocean Reinsurance Company Ltd.

SEC files fraud complaint against three ex-RenRe officers

November 28, 2006

A civil complaint alleging securities fraud has been brought against three former senior officers of the Bermuda based RenaissanceRe insurance group by the United States Securities and Exchange Commission.The action was filed at the U. S. District Court for the

Regulatory Probe: AIG (Bermuda) in chaos, Inter-Ocean Re apparently in run-off

March 31, 2005

Segments of Bermuda's insurance industry are in chaos as law enforcement and regulatory agencies in the United States crank up their investigations into offshore transactions.AIG's local operation appears to be in melt down, while finite risk reinsurer Inter Ocean Reinsurance

Inter-Ocean Re/Superior National to arbitrate $175 m contract

August 31, 1999

An arbitration between Bermuda-based Inter-Ocean Reinsurance Company and Superior National Insurance Company over a $175 million contract could take place before the end of the year. The dispute relates to coverage Inter-Ocean provided to US-based Business Insurance Group - now a subsidiary of Superior National - and 100 per cent reinsured by American Re.