The Bermuda-based PXRE Group Ltd. announced that the United States Court of Appeals for the Third Circuit has affirmed a $9.8 million judgment awarded in June 2002 after a jury trial of its dispute against Terra Nova Insurance Company Limited.
“The dispute concerned PXRE’s claims under two insurance policies that had been issued by an agent of Terra Nova,” said the bulletin.
It added that “PXRE had previously recorded this amount as a receivable and as a result, the decision will not have an earnings impact.”
Was this article valuable?
Here are more articles you may enjoy.
State Farm to Increase Claims Workforce by 3,000 
Hurricane to Threaten Hawaii With Flooding Over Weekend 
CVC-Backed Home Insurance Firm Bamboo Said to Postpone IPO 
Musk’s Boring Co. Working on Tunnel to Link Austin and San Antonio 
