Ex-RenRe boss Stanard is fined $100,000 in finite reinsurance case
US district judge Gerald Lynch has ordered former RenaissanceRe Holdings chairman and CEO James Stanard to pay a civil fine of $100,000 for his role in putting together a bogus finite reinsurance deal with Inter-Ocean Reinsurance in 2001 that enabled RenRe to defer $26.2m of its 2001 earnings until 2002 and 2003.