We’ve been at this one year shy 14 days and what an amazing year this has been. I warned then newbie Nowdy that getting mixed up with me was likely to land her in some strange and new places in cyber space. I think I kept that promise.
It was a very good year, Sop. You more than kept that promise – although learning what I’ve needed to know just to survive at a few of those “new places” has taken years off my life! With that thought in mind, I’ll provide the the Saturday night music – hope everyone has a bottle of wine and good fire going.
I was seventeen…It was a very good year…It was a very good year for small town girls…And soft summer nights…We’d hide from the lights…On the village green…When I was seventeen
When I was twenty-one…It was a very good year…It was a very good year for city girls…Who lived up the stair…With all that perfumed hair…And it came undone…When I was twenty-one
When I was thirty-five…It was a very good year…It was a very good year for blue-blooded girls…Of independent means…Wed ride in limousines…Their chauffeurs would drive…When I was thirty-five
But now the days grow short…I’m in the autumn of the year…And now I think of my life as vintage wine…from fine old kegs….from the brim to the dregs…And it poured sweet and clear…It was a very good year.
Noting Sop’s mention marking this as day number 364 of our blogging on Katrina insurance issues and related matters (some more closely than others), I pass on the Fitch rating for Merna Re, a relative of Oglesby Re, along with the picture the names of these reinsurance entities brought to mind.
Merna Re is a special-purpose reinsurance entity, owned by a purpose trust, domiciled in Bermuda and licensed as a Class 3 insurer. Merna Re provides fully collateralized excess of loss catastrophe reinsurance to Oglesby Reinsurance Ltd. (Oglesby Re) under the terms of two three-year retrocession agreements (one agreement for the notes and a separate, but substantially similar, agreement for the term loans). Oglesby Re is captive reinsurer, owned by State Farm, domiciled in Bermuda and licensed as a Class 3 insurer. (emphasis added)
Frankly, I prefer Sop put up finance posts as his knowledge offers context that I cannot provide. Given the bitch of a week he’s had, I decided getting this information up and open for comment would be my “anniversary present” – although he’d much prefer Goose and oysters and you would, too, if you could have a Drago’s dozen. (sorry, Sop, they don’t deliver)
Fitch Ratings has affirmed the ratings of $1.2 billion of Merna Reinsurance Limited’s (Merna Re) outstanding notes and term loans as follows: Continue reading “Merna and Oglesby RE”
Will Dr. Payment fold like McIntosh under this pressure?
Payment v State Farm, introduced here in a post that published on the 5th of December, became the target for a Mac-attack that same day. Before the attack ended a day later., State Farm attorney John Banahan had launched a dozen wind-to-water missiles of motions in limine, including three with memorandum in support.
Six docket entries that followed were ground fire for the bomb to come.
- Supplemental NOTICE of Service of Disclosure by Michael Payment
- Supplemental Designation of Experts by State Farm Fire and Casualty Company
- NOTICE of Service of Response to Interrogatories by State Farm Fire and Casualty Company
- NOTICE of Service of Disclosure by State Farm Fire and Casualty Company
- NOTICE of Service of Supplemental Opinions of Defendant’s Experts in Response to Supplemental Opinion of Neil B. Hall, Ph.D. by State Farm Fire and Casualty Company re Designation of Experts
- RESET HEARING: Final Pretrial Conference RESET for 12/22/2008, 1:30 P.M., before District Judge L. T. Senter Jr
Then, today, State Farm dropped a bomb – NOTICE of Offer of Judgment by State Farm Fire and Casualty Company. Continue reading “State Farm launches Mac-attack on Payment case with missiles, ground fire and bomb to keep MID market conduct exam from jury”