Fortress Re insiders agree to settle for $400 m

By David Marchant

20 years ago

Topics

Keywords

Aioi Insurance Carolina Re Conyers Fortress Re Gareth Hughes

John McKenna Kenneth Kornfeld Maurice Sabbah Sompo Japan Insurance Taisei Fire & Marine Insurance

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Fortress Re Inc. and its two principals, Maurice Sabbah and Kenneth Kornfeld, have reportedly agreed to settle a $1 billion arbitration award by giving up assets worth more than $400 million.The assets include “lavish homes, antiques, a Gulfstream III jet and other assets”, according to a report in the Wall Street Journal on July 21, 2004.

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