The State of Texas has placed American Meridian Insurance Company into permanent receivership and ordered its liquidation.
American Meridian is organized under the laws of Bermuda where it is a company in good standing. It is a wholly owned subsidiary of American Eagle Insurance Company, a Texas domiciled insurer in liquidation.
American Meridian has been in run-off since 1989 when it ceased writing new or renewal business. It has now been consolidated into the receivership of its parent, American Eagle Insurance Company, solely for purposes of administration.
Jack M. Webb is the Special Deputy Receiver of both American Eagle and American Meridian.
All rights against the company are fixed as of the date of receivership, February 6, 2007. Certain acts are stayed under Section 21A.008 of the Texas Insurance Code and the Receivership Court has entered additional injunctive relief which is more fully described in the Court’s Permanent Injunction. There has been no finding of insolvency and the company continues in run-off.
The Special Deputy Receiver will seek court approval of a claims filing procedure and deadline by which all claims must be submitted.
Copies of court documents, claims filing procedures/deadlines and additional information is available at www.TexasReceiver.com or by contacting the office of Jack M. Webb & Associates, Inc.
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