Guy Carpenter To Settle Antitrust Case For $4.25M

Law360, New York (January 31, 2011, 8:26 PM EST) -- Reinsurance broker Guy Carpenter & Co. LLC and 11 other reinsurers agreed Monday to pay $4.25 million to resolve a landmark suit alleging that they conspired to drive up insurance and reinsurance costs.

Guy Carpenter, a Marsh & McLennan Cos. Inc. subsidiary, and Excess Reinsurance Co., now known as Knightbrook Insurance Co., both entered the settlement in the Superior Court of the State of Connecticut, bringing the antitrust case targeting the reinsurance industry close to an end.

The lawsuit, brought by the state of Connecticut, accused...
To view the full article, register now.