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Ex-owners of Clarendon Insurance seek to enforce $92 m Bermuda judgment regarding Stirling Cooke fraud

Articles Bermuda Featured Finland Fraud Insurance Stirling Cooke United Kingdom USAJanuary 10, 2012

Ex-owners of Clarendon Insurance seek to enforce $92 m Bermuda judgment regarding Stirling Cooke fraud

By David Marchant

12 years ago

Topics

Bermuda Finland Fraud Insurance USA

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Keywords

CJH Investments Clarendon America Insurance Company Clarendon Insurance Group Clarendon National Insurance Company Executive Risk Specialty Insurance Company

Goldman Sachs Gulf Insurance Company Hannover Re Imipolex LLC Kansa International Corporation Ltd. Lion Holding Inc. Milo Family Limited Partnership Omphalos LLC Raydon Underwriting Management Company Reuben Jeffery III Robert D. Ferguson Stirling Cooke Travelers Indemnity Company

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Highlights

Defendants are Travelers Indemnity Company and Executive Risk Specialty Insurance Company
Raydon Underwriting Management is "insolvent" so insurers must satisfy judgment, say plaintiffs
$92 m judgment 'arises from Raydon's involvement in a London-based reinsurance spiral in the mid-1990s'

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Robert D. Ferguson et al v. Travelers Indemnity Company et al: Complaint

The former owners of the Clarendon Insurance Group have taken legal action to force Travelers Indemnity and Executive Risk Specialty Insurance to satisfy $25 m of a $92 m judgment in Bermuda arising from a fraud committed by the now-defunct, Goldman Sachs-controlled Stirling Cooke group.

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Robert D. Ferguson et al v. Travelers Indemnity Company et al: Complaint

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