Insurers stake $7bn claim in largest-ever US criminal asset seizure

Top global insurers including key units of Chubb, Axa, Munich Re, and Intact have staked a $7 billion claim against the 127,271 bitcoin ($9.8 billion) seized by the US from the Prince Group, what authorities call “one of the largest transnational criminal organisations in Asia,” in the single largest asset confiscation in US history.