Max Re CEO quits as old finite wounds reopened
Bermudian reinsurer Max Re's founder, CEO and Chairman, Bob Cooney has resigned as the company reopened an internal investigation into accounting for finite risk retro contracts and advised markets that it would have to restate results a second time after new information came to light.
The internal investigation, which had concluded in May 2006, was initiated to consider whether three finite risk retro contracts were properly accounted for by the Company.
The investigation will
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