OneBeacon, Transamerica Execute Settlement in $2.1 Million Reinsurance Action

BOSTON — In light of a recent settlement, a Massachusetts federal judge has granted OneBeacon America Insurance Co. and Transamerica Reinsurance Co.’s joint motion to stay a lawsuit accusing TRC of breaching six facultative certificates by refusing to pay $2,151,206 in reinsurance billings.

According to the parties’ Dec. 13 motion, they have finalized the terms of the written settlement agreement and have circulated it for execution. Judge Indira Talwani of the U.S. District Court for the District of Massachusetts granted the motion the same day, staying the case until Jan. 18 — the date the parties anticipate filing a stipulation …