Finite investigations add three subpoenas to the roster (June 17, 2005)

The U.S. attorney for the Southern District of New York recently handed PartnerRe Ltd. (NYSE:PRE) a subpoena requesting information regarding the Company’s finite reinsurance products, adding to the already substantial roster of companies that have been summoned as part of the ongoing investigative blitz into the use of finite products.
Bermuda-based reinsurers Platinum Underwritings Holdings Ltd. and RenaissanceRe received subpoenas relating to finite reinsurance from the U.S. attorney the same day as PartnerRe. Similar subpoenas were previously served to both companies in relation to the New York Attorney General Eliot Spitzer and U.S. Securities and Exchange Commission investigations.
All three Company’s intend to cooperate fully in responding to regulatory authorities.