Florida regulators have requested that property/casualty insurer Aries Insurance Co. of Miami be liquidated immediately. The move comes seven months after the company volunteered to go into receivership. The company is contesting the Department's move and a hearing is scheduled for Nov. 4 on the matter. Aries contends that its financial troubles are a result of a dispute with its reinsurance company, General Re, who they claim owes the company $30 million. In May, Aries volunteered to go into receivership and stopped writing new business but continued paying claims on existing business. The c...
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