INSURANCE COMMISSIONER OF CALIFORNIA VS SUPERIOR NATIONAL

INSURANCE COMMISSIONER OF THE STATE OF CALIFORNIA V. SUPERIOR NATIONAL INSURANCE COMPANYAND CONSOLIDATED PROCEEDINGS

MOTION #1 FOR APPROVAL OF REINSURANCE COMMUTATION AND SETTLEMENT AGREEMENT WITH TRANSATLANTIC REINSURANCE CORPORATION AND LDG REINSURANCE CORPORATION

MOTION #2 FOR APPROVAL OF REINSURANCE COMMUTATION AND SETTLEMENT AGREEMENT WITH CONTINENTAL CASUALTY COMPANY

TENTATIVE RULING

Grant motions for approval of Reinsurance Commutation and Settlement Agreement with Transatlantic Reinsurance Corporation and LDG Reinsurance Corporation, and with Continental Casualty Company

DISCUSSION

I. Background

On September 26, 2000, the Insurance Commissioner was appointed as liquidator of the Superior National Insurance Companies, including Superior Pacific (“the Insolvent Insurers”), pursuant to orders appointing the Insurance Commissioner as Liquidator and Restraining Orders. Prior to th........