STORY FROM: Reinsurance & Arbitration
Continental Seeks Confirmation of Award Requiring AXA to Pay Retrocessional Billings
August 22, 2018
NEW YORK — Continental Insurance Co. has asked a New York federal judge to confirm a final arbitration award requiring AXA Versicherung AG to pay Continental $337,034, plus interest, pursuant to a retrocessional contract that covered ceded asbestos and pollution losses.
In an Aug. 14 motion filed before Judge Valerie E. Caproni of the U.S. District Court for the Southern District of New York, Continental argues the award should be confirmed none of the grounds for vacating, modifying or correcting an award are applicable.
Continental added that AXA has not moved to vacate or modify the arbitration award and therefore ...
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