Business Services Industry

Probes widen to encompass Transatlantic, Gen Re execs.(News)(Transatlantic Holdings Inc.)(General Re Corp.)

Business Insurance, May, 2005 by Mcleod, Douglas

Byline: DOUGLAS McLEOD NEW YORK-Regulators investigating finite risk products and American International Group Inc.'s financial reporting have issued additional subpoenas, while the Securities and Exchange Commission has notified several current or former General Re Corp. officials that they may be sued for securities law violations.

Transatlantic Holdings Inc. disclosed last week that the New York Insurance Department has subpoenaed information regarding its dealings with a Cayman Islands-based medical malpractice reinsurer owned by a former official of Arthur J. Gallagher & Co. The Cayman Islands reinsurer, Sunrise Professional Indemnity Ltd., is controlled William F. Galtney Jr., the former chairman and chief executive officer of Gallagher Healthcare...

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