Suit Over Losses From Fund Tied To Reinsurance Stayed For Bermuda Decision

Mealey's (January 5, 2022, 10:32 AM EST) -- FORT MYERS, Fla. — Granting an unopposed motion by a former Markel CATCo Investment Management Ltd. CEO, a Florida federal judge on Dec. 30 stayed a suit until Feb. 18 or the Bermuda Supreme Court’s issuance of a pending decision, whichever comes first; in the suit against the CEO, an LLC alleges fraudulent inducement and negligent misrepresentation in connection with its “losses of nearly $20 million” from a fund “tied to the reinsurance business operated by Markel CATCo Reinsurance Limited.”...