Jurisdiction Exists in $4.6 Million Reinsurance Action, N.Y. Federal Judge Rules

NEW YORK — A New York federal judge has ruled that subject matter jurisdiction exists in an action seeking to enforce an investor’s $4.6 million promissory note that was executed as part of a reinsurance arrangement for a book of disability income business.

On Dec. 15, Judge Andrew L. Carter Jr. of the U.S. District Court for the Southern District of New York explained that, after reviewing plaintiffs’ amended complaint, he concluded that “no defendant is a citizen of the same state as any plaintiff.”

In 2018, Pan-American Life Insurance Co. and Vista Life & Casualty Reinsurance Co. began discussing …