Bermuda-based Everest Re Group has issued a statement following receipt of a subpoena from the Securities and Exchange Commission seeking information about finite reinsurance, or loss-mitigation insurance products.
Everest Re said that it will “fully cooperate with this and any future inquiries and that Everest Holdings does not believe that it has engaged in any improper business practices with respect to loss mitigation insurance products.”
Everest Re also indicated that its insurance subsidiaries have received and are responding to broadly distributed information requests by state regulators including those from Delaware and Georgia.
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