Deloitte to Settle Claims for $23 Million

Accounting firm Deloitte & Touche agreed to settle claims stemming from its audit of collapsed insurer Kentucky Central Life Insurance Co. for $23 million, according to court documents.

The settlement agreement was filed in Kentucky's Franklin County Circuit Court for approval. A hearing may be held in early March.

The settlement resolves all allegations against Deloitte related to its role as auditor of Kentucky Central Life, which collapsed in 1993. Deloitte did not admit any wrongdoing as part of the settlement.

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