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Eighth Circuit Affirms Dismissal of Putative Class Action Challenging Affiliate Reinsurance Transactions
14 April 2017
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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.
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