Munich Re to Reveal Dealings in US Probe | Business| Economy and finance news from a German perspective | DW | 27.04.2005
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Munich Re to Reveal Dealings in US Probe

Munich Re, the world's leading reinsurer, said Wednesday that it had received a subpoena from US authorities to provide information in the current probe against US insurer MBIA. The New York Attorney General Eliot Spitzer and the Securities and Exchange Commission (SEC) had demanded that the German company provide information about its reinsurance contracts and business dealings with MBIA, a company spokeswoman said. The subpoena is part of a probe in connection with the 1998 bankruptcy of the Allegheny Health, Education and Research Foundation, for which MBIA was the insurer.

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