U.S. District Judge Paul Engelmayer of the Southern District of New York on Wednesday awarded $10.8 million in damages to Partner Reinsurance Co. in a breach of contract case involving RPM Mortgage’s agreement to buy a majority share in an Ohio-based insurance company of which PartnerRe was a principal owner.

In a 147-page opinion, Engelmayer found that RPM failed to close the merger because CEO Robert Hirt “had developed an acute case of buyer’s remorse” regarding his company’s agreement with the insurance company, Entitle Direct Group.