ACE Limited became the latest Bermuda-based insurer to receive a subpoena from the United States Attorney for the Southern District of New York as part of the ongoing investigation into finite risk insurance products (See IJ Website June 10,16,17).
ACE said it “understands that other insurance companies have received similar subpoenas. As previously disclosed by ACE, ACE has received subpoenas from the Securities and Exchange Commission and the New York Attorney General in connection with an investigation into these insurance products. ACE intends to comply with the subpoena.”
Was this article valuable?
Here are more articles you may enjoy.
Insurance Issue Leaves Some Players Off World Baseball Classic Rosters 
Florida’s Commercial Clearinghouse Bill Stirring Up Concerns for Brokers, Regulators 
Trump’s Repeal of Climate Rule Opens a ‘New Front’ for Litigation 
AIG’s Zaffino: Outcomes From AI Use Went From ‘Aspirational’ to ‘Beyond Expectations’ 
