A New York judge has rejected bids to terminate a lawsuit
between run-off and live services business Tawa and Argonaut Group
subsidiary PXRE, which is accused of failing to fully disclose its
9/11 liabilities before being sold to Tawa in 2007.
WT Holdings, a wholly owned subsidiary of Tawa, bought PXRE from Argonaut in a $114mn transaction. The subsidiary had gone into run-off in early 2006 as a result of hurricane losses from the prior year.
PXRE had also been...
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