MATTER OF INTEGRATED RESOURCES LIFE INS.

No. 95-1785.

562 N.W.2d 179 (1997)

In the Matter of the Liquidation of INTEGRATED RESOURCES LIFE INSURANCE COMPANY, Steven T. Foster, Deputy Receiver of Fidelity Bankers Life Insurance Company and Trustee of the Fidelity Bankers Life Insurance Company Trust, Appellant.

Supreme Court of Iowa.

April 23, 1997.


Attorney(s) appearing for the Case

Frederick M. Haskins of Patterson, Lorentzen, Duffield, Timmons, Irish, Becker & Ordway, Des Moines, Patrick H. Cantilo and Steven E. Adkins of Cantilo, Maisel & Hubbard, L.L.P., Austin, Texas, and Jeffrey L. Wood and Randolph N. Wisener of Cantilo, Maisel & Hubbard, L.L.P., Dallas, Texas, for appellant.

Ronald L. Anderson of Howes & Anderson, P.C., Des Moines, and Ida Wurczinger Draim of Wiley, Rein & Fielding, Washington, D.C., for appellee Integrated Resources Life Insurance Co.

Considered by McGIVERIN, C.J., and LARSON, LAVORATO, NEUMAN, and ANDREASEN, JJ.


NEUMAN, Justice.

Two insurance companies in receivership—Integrated Resources Life Insurance Co. (Integrated) and Fidelity Bankers Life Insurance Co. (Fidelity)—dispute the impact of an assumption agreement executed between Integrated and its delegate, North American Reassurance (NARe). Integrated persuaded the district court that Fidelity's willingness to forward premiums to NARe meant that Fidelity thereby released Integrated from their mutual reinsurance...

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