Insurer, Ex-Enron Chairman's Widow Settle Annuity Dispute

Law360, Wilmington (August 13, 2012, 8:51 PM EDT) -- John Hancock Life Insurance Co. has reached a settlement with the widow of former Enron Corp. Chairman Kenneth Lay in a long-running dispute over an annuity policy, according to documents filed in New York federal court on Monday.

After months of mediation, U.S. District Judge Leonard B. Sand signed off on a stipulated dismissal of the suit, in which John Hancock challenged Linda Lay’s claim to guaranteed income benefits in addition to a death benefit under an annuity policy issued to her late husband.

“This settlement...
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