STORY FROM: Reinsurance & Arbitration

Reinsurers Oppose Policyholder’s Motion to File Amended Complaint for Breach of Contract

WASHINGTON, D.C. — A group of reinsurers has opposed Vantage Commodities Financial Services Inc.’s efforts to file an amended complaint against them in a lawsuit seeking payment of a $26 million judgment.

In their Sept. 10 opposition filed before Judge Trevor N. McFadden of the U.S. District Court for the District of Columbia, the reinsurers contend that Vantage’s motion ignores the fact that the claims against the reinsurers were dismissed last month.

Vantage procured a policy from insurer Assured Risk Transfer LLC and reinsurers Hannover Ruckverishcerung AG, Partner Reinsurance Europe plc, Syndicate 4472 (Liberty Syndicates), Syndicate 2001 (MS Amlin), Syndicate ...

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