Bermuda based-White Mountains Insurance Group has settled a dispute with Florida Insurance Commissioner Kevin McCarty after regulators charged one of its reinsurance units with ?unfair or deceptive acts or practice? for selling health policies without a license.

A consent order signed by Mr. McCarty on August 30, and obtained by , stated White Mountains? wholly-owned subsidiary Sirius International Insurance Corporation was not licensed to sell the policies in Florida, and is barred from doing business in the state until it meets all of the ?licensing or eligibility provisions of the Florida Insurance Code?.

To clear up matters with regulators, Sirius had to pay disputed claims totalling more than $260,000, its legal fees and has waived any right to dispute the order.

The order follows the company being subpoenaed in April for information on all business Sirius conducted in Florida during the last two years.

It was alleged that Sirius and managing general agency International Medical Group of Indiana, Indianapolis sold insurance without a license in Florida. Sirius sold expatriate medical coverage through an exclusive arrangement with International Medical Group, earlier regulatory documents showed.

Under a cease-and-desist order from May, both Sirius and IMG were barred from selling policies in Florida. White Mountains chief financial officer David Foy said yesterday the company was happy to have reached ?a mutually agreeable resolution? with Florida?s insurance regulators.

The company said beyond the $261,000 in disputed claims that had to be met, it did not pay any fines or fees related to its settlement with Florida insurance regulators.

Mr. Foy said the company was ?in the process of getting licensed? to sell insurance policies in Florida. And, he said Sirius did not have any other outstanding issues with Florida regulators, including the company being up to date with its tax payments.

The Florida Insurance Commissioner?s office did not respond to additional questions by Press time last night. Sirius was acquired by White Mountains in late 2003 and is part of its reinsurance unit, Bermuda-based White Mountains Re.