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

By David Marchant

14 years ago

Topics

USA

[ 1 more... ] [ top 5 ]

Keywords

Converium Holding Inter-Ocean Reinsurance Zurich Insurance Zurich Insurance Group

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.

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