Insurer Seeks To Confirm $524M Arbitration Award Against Reinsurer

(June 8, 2020, 1:43 PM EDT) -- NEW YORK — A Puerto Rico life insurer in a June 4 motion asks for confirmation from a New York federal court of a $524,009,051.26 arbitration award to be used as security for a Bermuda reinsurer’s liabilities in a dispute concerning improper asset divestments for a reinsurance trust (PB Life and Annuity Co. Ltd. v. Universal Life Insurance Co., No. 20-2284, S.D. N.Y.)....