Business Services Industry
Former Gen Re execs drop APRA appeals.(Australia Prudential Regulation Authority)(Geoffrey Barnum and Christopher Byatt of General Re Corp.)(Brief Article)
Business Insurance, March, 2006 by Veysey, Sarah
Byline: Sarah Veysey SYDNEY, Australia-Two former senior executives at General Re Corp.'s Australian operations last Wednesday withdrew their legal challenge to their disqualification by the country's insurance regulator because of their role in an improper financial reinsurance transaction.
The Australian Prudential Regulation Authority announced that Geoffrey Barnum and Christopher Byatt had dropped their appeal to the Administrative Appeals Tribunal of their October 2004 disqualification from being or acting as a director or senior manager of a general insurer. The two were banned by APRA because of their role in a financial reinsurance contract between their former employer General Cologne Reinsurance Australia, and Australian insurer FAI General...
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