Feds try to reclaim $347 million insurance payout to Suncor linked to Libya unrest

The federal government is trying to reclaim nearly $350 million in insurance paid to Suncor Energy Inc. in the wake of political unrest in Libya.

The oil giant claimed $300 million in risk mitigation payments for losses linked to Libyan energy assets after fighting between rival political factions spread to the country’s oil crescent region in 2015, a Federal Court judge said in a ruling this week.

The total — $347 million with interest — was determined by an arbitrator in…