DALLAS (AP) ? Zurich American Insurance Co. has agreed to pay nearly $172 million (euro141.16 million) in a deal with nine states to settle allegations of bid-rigging and price-fixing in the commercial insurance market, state officials said.

Policyholders in all 50 states would receive $151.7 million in refunds, Mark Tobey, a lawyer with the Texas Attorney General?s office, said yesterday.

The US unit of Zurich Financial Services will pay an additional $20 million to the nine states, including investigative costs, attorney fees and payments in lieu of civil penalties, said Tobey, who helped negotiate the deal.