Co-Trustees: Insurer’s Cost Increase Was Due In Part To Reinsurance Transactions

Mealey's (December 19, 2019, 12:15 PM EST) -- MIAMI — A life insurer “imposed a sudden and massive increase in the cost” of a trust’s two universal life insurance policies after orchestrating “a series of captive reinsurance transactions” for the benefit of a corporate parent, co-trustees allege in a Dec. 3 complaint filed in a Florida federal court (Michael Foster, et al. v. Transamerica Life Insurance Co., No. 19-24969, S.D. Fla.)....

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