Arrowood Indemnity Company enters liquidation

As discussed in our post last month, it was a long road for Arrowood Indemnity to be placed into liquidation in Delaware.

Filed under:
USA, Insolvency & Restructuring, Insurance, Litigation, Reed Smith LLP
Authors:
Timothy P. Law , Ann V. Kramer
Location:
USA
Firm:
Reed Smith LLP
Is Arrowood the next Kemper? The insurance insolvency system is broken

The Kemper/Lumbermens saga

To refresh everyone’s recollection, this is a report from Business Insurance from March 14, 2010:

Filed under:
USA, Insolvency & Restructuring, Insurance, Reed Smith LLP, Receivership
Authors:
Ann V. Kramer
Location:
USA
Firm:
Reed Smith LLP
What is happening to AIG?

This morning, March 2, 2009, American International Group, Inc. ("AIG") announced a loss of $61.7 billion for the fourth quarter of 2008, a total net loss for 2008 of $99.29 billion, and a major restructuring of its operations, including a new federal infusion of $30 billion, forgiveness of certain debts, and relaxation of prior bailout terms. For comparison purposes, all insured losses for all insurance companies (not just AIG) relating to Hurricane Katrina are estimated at slightly more than $40 billion.

Filed under:
USA, Insolvency & Restructuring, Insurance, Reed Smith LLP, Bond market, Bankruptcy, Debt, Bailout, Holding company, Subsidiary, Preferred stock, Casualty insurance, Mortgage-backed security, US Department of the Treasury, American International Group, Federal Reserve (USA), MetLife, Moody's Investors Service
Authors:
Ann V. Kramer , Paul Walker-Bright , Timothy P. Law
Location:
USA
Firm:
Reed Smith LLP
Arrowood Indemnity Company enters liquidation

As discussed in our post last month, it was a long road for Arrowood Indemnity to be placed into liquidation in Delaware.

Filed under:
USA, Insolvency & Restructuring, Insurance, Litigation, Reed Smith LLP
Authors:
Ann V. Kramer
Location:
USA
Firm:
Reed Smith LLP