RenRe Subpoenaed in Finite Probe
|Bermuda-based RenaissanceRe Holdings Ltd. has received asubpoena from the U.S. Attorney' Office for the Southern Districtof New York in Manhattan in an investigation concerning accountingfor finite risk products, the company said.
|The Securities and Exchange Commission with New York AttorneyGeneral Eliot Spitzer's office is also examining the use of finitereinsurance products and has subpoenaed the company.
|"The company intends to cooperate in responding to theserequests," the statement said.
|Investigators have been probing instances where suchtransactions have been used to improperly inflate corporatefinancial statements.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
