Bermuda’s PXRE Group Ltd. announced that its subsidiary, PXRE Corporation, has been awarded $8.25 million plus interest by a jury at the conclusion of the trial of its dispute against Terra Nova Insurance Company Limited.
The dispute, which was heard before the U.S. District Court for the District of New Jersey, concerned PXRE’s claims under two insurance policies that had been issued by an agent of Terra Nova. The company gave no further details concerning the specific nature of the litigation.
PXRE stated that it had “previously included the aggregate sum of $8.25 million in Other Assets as a receivable.”|”pxre, wins, $8.25, million, judgment, against, terra, nova
Was this article valuable?
Here are more articles you may enjoy.
Florida Engineers: Winds Under 110 mph Simply Do Not Damage Concrete Tiles 
Trump’s EPA Rollbacks Will Reverberate for ‘Decades’ 
Fingerprints, Background Checks for Florida Insurance Execs, Directors, Stockholders? 
A 10-Year Wait for Autonomous Vehicles to Impact Insurers, Says Fitch 
