Chicago-based commercial insurer 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.
Wall Street Is Gaining Access to New Catastrophe Models to Help Predict Wars 
Claimants of 23andMe Data Breach to Get $46.75M in Settlement Deal 
Zurich Sees Data Center Boom Spurring Insurance Securitization 
Virginia Says Airbnb Lacks Insurance License to Offer Host Damage Protection Plan 
