
Zurich agreed to pay $25 million to resolve allegations that its former reinsurance group, which operated under the name Zurich Re and was later spun off in 2001 as Converium, designed three reinsurance transactions to make it appear that risk had been transferred to third-party entities when, in fact, the risk remained with Zurich-controlled entities. For more info visit https://www.sec.gov/news/press/2008/2008-292.htm