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Life Time, Inc.
−Removed: Zurich American Insurance Company — On August 19, 2020, Life Time, Inc., several of its subsidiaries and a joint venture entity, Bloomingdale Life Time Fitness LLC (collectively, the “Life Time Parties”), filed a complaint against Zurich American Insurance Company (“Zurich”) in the Fourth Judicial District of the State of Minnesota, County of Hennepin (Case No.
+Added: Zurich American Insurance Company — On August 19, 2020, Life Time, Inc., several of its subsidiaries and a joint venture entity, Bloomingdale Life Time Fitness LLC (collectively, the “Life Time Parties”), filed a complaint against Zurich American Insurance Company (“Zurich”) in the Fourth Judicial District of the State of Minnesota, County of Hennepin (the “District Court”) (Case No.
27-CV-20-10599) (the “Action”), seeking declaratory relief and damages with respect to Zurich’s failure under a property/business interruption insurance policy to provide certain coverage to the Life Time Parties related to the closure or suspension by governmental authorities of their business activities due to the spread or threat of the spread of COVID-19.
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The Court granted Zurich’s dispositive motions on July 25, 2024, dismissing the Life Time Parties’ claims with prejudice, and entered judgment on July 26, 2024.
−Removed: The Life Time Parties have appealed from that judgment to the Minnesota Court of Appeals.
−Removed: The Action is subject to many uncertainties, and the outcome of the matter is not predictable with any assurance.
+Added: The Life Time Parties appealed from that judgment to the Minnesota Court of Appeals (the “Court of Appeals”).
+Added: On August 11, 2025, the Court of Appeals reversed the District Court’s order granting summary judgment in favor of Zurich, holding that governmental closure orders were the causes of the Life Time Parties’ losses under the property/business interruption policy, and not the pandemic.
+Added: The Court of Appeals concluded that the Life Time Parties have a coverage limit of $1.0 million per occurrence and there were 29 occurrences, reflecting the 29 different jurisdictions that issued closure orders affecting the Life Time Parties’ 150 locations during that time.
+Added: The Court of Appeals remanded the Action to the District Court for further proceedings.
+Added: On September 8, 2025, Zurich petitioned the Minnesota Supreme Court for review of the decision of the Court of Appeals.
+Added: On September 30, 2025, the Life Time Parties filed an opposition to Zurich’s petition for review.
+Added: On October 29, 2025, the Minnesota Supreme Court denied Zurich’s petition for review.
+Added: In November 2025, Zurich paid approximately $40 million to Life Time in partial satisfaction of Life Time’s legal claims in this Action, representing payment of up to $1.0 million plus interest for 26 occurrences of 29 total occurrences found by the Court of Appeals in its order dated August 11, 2025.
+Added: The Action will be remanded to the District Court for further proceedings.
+Added: The Action is subject to uncertainties, and the final outcome of the matter is not predictable with assurance.
Other Legal Proceedings —We are also engaged in other proceedings incidental to the normal course of business.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.