The US District Court in Connecticut has set a retrial date for former executives of Gen Re and former AIG VP Christian Milton who had faced charges over a sham reinsurance agreement.

Mr Milton and the group known as the Gen Re Four were convicted of fraud and conspiracy charges in 2008 and 2009, with prosecutors alleging the reinsurance deal was set up to inflate AIG’s loss reserves. They were sentenced to jail but the verdicts were overturned last year when the appeals court ordered a retrial.

This will start in January 2013.

The Gen Re executives are its former CEO Ronald Ferguson, a former Senior VP and Assistant General Counsel Robert Graham, former CFO Elizabeth Morand and former Senior VP Christopher Garand.