Insurer, Reinsurer Sue Parent Company For More Than $5M Under Tax-Sharing Agreement

Mealey's (June 24, 2022, 7:00 AM EDT) -- RALEIGH, N.C. — An insurer and a reinsurer that are in rehabilitation sued their parent company in North Carolina federal court on May 26 over what they allege is its refusal to pay them more than $5 million they are due under a tax-sharing agreement (TSA), asserting claims for breach of contract, conversion, embezzlement and unfair and deceptive trade practices....