Australia Probing Gen Re Over Finite Deals
NU Online News Service, April 14, 8:21 p.m. EDT?The Australian Prudential Regulation Authority, a financial regulatory agency, said it is investigating General Reinsurance sales of finite reinsurance that may have contributed to Australia's largest corporate collapse.[@@]
Involved are non-traditional finite reinsurance contracts that the Berkshire Hathaway Inc. unit sold to FAI Insurance that are suspected of being used to inflate FAI's financial picture.
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