STORY FROM: Reinsurance & Arbitration

S.C. Federal Judge Dismisses 3rd, 4th Party Complaints Against Aon, U.S. Bank Trust in Trust Agreement Action

COLUMBIA, S.C. — In an action in which an insurer is accusing a bank of mishandling assets that were intended to secure reinsurance obligations, a South Carolina federal judge has dismissed third- and fourth-party complaints against Aon Insurance Managers (Cayman) Ltd. and U.S. Bank Trust National Association for lack of personal jurisdiction.

On Nov. 16, Judge J. Michelle Childs of the U.S. District Court for the District of South Carolina found a lack of evidence that the defendants had the requisite contacts with the forum.

Companion Property and Casualty Insurance Co. participated in a fronted insurance program with reinsurers Redwood ...

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