Chicago-based commercial insurer CNA Financial Corp. has received a subpoena from New York federal prosecutor David Kelley relating to his investigation of finite reinsurance. Kelley, the U.S. Attorney for the Southern District of New York, has asked at least 10 companies to provide documents relating to the practice, according to Reuters. The U.S. Securities and Exchange Commission is also after CNA to produce documents related to its recent financial restatement, especially its relationship with Accord Re Ltd. The company said it would cooperate fully with both investigations.
Topics Reinsurance
Was this article valuable?
Here are more articles you may enjoy.
Florida’s Commercial Clearinghouse Bill Stirring Up Concerns for Brokers, Regulators 
AIG Underwriting Income Up 48% in Q4 on North America Commercial 
Trump’s Repeal of Climate Rule Opens a ‘New Front’ for Litigation 
‘Structural Shift’ Occurring in California Surplus Lines From This Issue
