Inter-Ocean Reinsurance Company

Former officers of Bermuda-based RenaissanceRe recently suffered two discovery setbacks in their defense of a securities fraud lawsuit brought by the United States Securities and Exchange Commission.On June 25, U. S. District Judge Gerard E. Lynch, sitting at the U. S. District Court for the Southern District of New York, denied an application by Bermudian national Michael Cash to delay Cash's deposition until after he has deposed co-defendant and fellow former RenRe officer Martin Merritt and non-party Jonathan Reiss.

American Re has claimed it was duped into providing $175 million of workers' compensation reinsurance coverage for Superior National Insurance Company subsidiary Business Insurance Group.The allegation is contained in American Re's answer to a lawsuit brought against it and Bermuda-based Inter-Ocean Reinsurance Company by Superior National Insurance Company in the Superior Court of California.

Inside Bermuda has received a letter from Inter-Ocean President Mervin Holland in response to allegations made to the media about his company by Superior National Insurance Company President Chris Seaman.Holland was particularly upset at an article that appeared in The Royal Gazette newspaper on September 23 headlined: "Inter-Ocean tried to mug us - US insurer."