Eighth Circuit Affirms Dismissal of Putative Class Action Challenging Affiliate Reinsurance Transactions
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- The United States Court of Appeals for the Eighth Circuit has affirmed the dismissal of claims challenging the use of affiliate reinsurance transactions approved by state insurance regulators.
- The Court affirmed the dismissal of alleged civil violations of the Racketeer Influenced and Corrupt Organizations Act (“RICO”) under the McCarran-Ferguson Act.
- This case appears to close down another avenue by which plaintiffs sought to challenge the financial impact of affiliate reinsurance transactions through potentially high-stakes class action lawsuits.