Arrowood Indemnity Co., the runoff U.S. insurance operation of Royal & Sun Alliance Insurance Group PLC, was placed into liquidation on Thursday by the Chancery Court of Delaware.
Arrowood estimated that for the third quarter, its projected future claims and expenses exceeded its assets by about $17 million, according to the complaint seeking liquidation that was filed with the Chancery Court by Delaware Insurance Commissioner Trinidad Navarro, who has been named the company’s receiver.
