The Fifth Circuit Court of Appeals affirmed in part and reversed in part a dismissal of a parent company’s breach-of-contract claims against a reinsurance broker arising from a reinsurance placement for one of the parent company’s subsidiary insurers, holding that the insured failed to state claims under provisions requiring document retention and compliance with sanctions laws but plausibly alleged a breach of post-placement administrative services regarding handling of collateral and reserve funding, warranting remand.
