Zurich settles bid-rigging probe for $153m (£87.58m)
Zurich Financial Services has come to an agreement with New York Attorney General Eliot Spitzer and State Insurance Department Superintendent Howard Mills to resolve allegations of bid-rigging and improper "finite reinsurance" transactions.
Under the agreement, certain subsidiaries of Zurich will pay $153m in restitution and penalties and adopt a series of sweeping reforms. In addition, Zurich has issued an apology acknowledging its
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