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GenRe, AIG Exec Convictions Vacated; Liberty Mutual May Challenge AIG Workers’ Comp Settlement

Two ongoing industry legal battles saw recent developments, as an appeals court vacated the convictions of former General Reinsurance Corp. and American International Group executives; and Liberty Mutual Group says it likely will appeal the preliminary approval given to a $450 million settlement between AIG and other companies stemming from...

By Chad Hemenway | Updated on August 04, 2011

Two ongoing industry legal battles saw recent developments, as an appeals court vacated the convictions of former General Reinsurance Corp. and American International Group executives; and Liberty Mutual Group says it likely will appeal the preliminary approval given to a $450 million settlement between AIG and other companies stemming from a workers’ compensation program dispute.

A panel of judges in the U.S. Second Circuit Court of Appeals in New York ordered a new trial for Ronald Ferguson, former CEO of GenRe; Elizabeth Monrad, former CFO of the company; Christopher Garand, former senior vice president; and Robert Graham, former assistant general counsel.

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