It emerged last week that German reinsurer, Hannover Re has become the latest international firm to receive a subpoena from the US authorities, which are currently scrutinising the industry both at home and abroad.
The US Securities and Exchange Commission and New York's attorney general, Eliot Spitzer are reportedly seeking to question the reinsurance firm over its US unit's 'nontraditional' reinsurance products.
However, Hannover revealed that no allegations of wrongdoing have been made against it, and stated that it was cooperating fully with the US probe.
Several other international insurers and reinsurers, including Axa, Munich Re and Converium have also been subpoenaed by the American authorities.
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