RELIANCE INSURANCE RECEIVES COURT APPROVAL FOR TWO MORE SETTLEMENTS
We reported on September 3 of the court approval of a settlement and commutation between Reliance Insurance Company (in liquidation), and Munich Reinsurance America. The liquidation court has also approved settlement/commutation agreements betwen Reliance and the Clarendon group of companies and with XL Reinsurance. The benefit to the estate of the agreement with the Clarendon group of companies is $9.498 million; the benefit to the estate of the agreement with XL Re is $6.325 million. Ario v. Reliance Insurance Co., Case No. 269 M.D. 2001 (Pa. Commw. Ct. July 16, 2009).
This post written by Rollie Goss.
