STORY FROM: Reinsurance & Arbitration

AIG Insurers Drop $1.3 Million N.Y. Reinsurance Action Against R&Q Re

NEW YORK — Three American International Group insurers have agreed to drop their action against R&Q Reinsurance Co. in which they sought $1.3 million in reinsurance proceeds for an underlying settlement of lawsuits involving asbestos and tainted blood clotting products.

In an April 7 filing before Judge Jeffrey K. Onig of the New York County Supreme Court, the parties stipulated that the action is voluntarily discontinued with prejudice and without costs to any party.

R&Q’s predecessor, INA Reinsurance Co., issued several facultative contracts to Granite State Insurance Co., Lexington Insurance Co. and the Insurance Company of the State of Pennsylvania. ...

Associated Law Firms
Budd Larner
Nelson Levine de Luca & Hamilton

Associated Documents
Stipulation



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