Stirling Cooke Brown Holdings and some of its subsidiaries, affiliates and officers have been accused of engaging in widespread fraud to the detriment of mostly US insurers and reinsurers in a lawsuit filed by Odyssey Re (London) on March 29 in the United States District Court for the Southern District of New York.
As with lawsuits and arbitration proceedings involving Stirling Cooke in London, the company has been accused of running reinsurance spirals purely to generate brokerage commissions and underwriting management fees for itself regardless of the consequences to insureds and reinsureds.
Articles Bermuda Featured Fraud Insurance Listed Securities Stirling CookeMarch 31, 1999
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Bermuda Fraud Insurance Listed SecuritiesKeywords
Bermuda Insurance Market Odyssey Re Stirling Cooke