STORY FROM: Reinsurance & Arbitration
AmTrust Moves for Summary Judgment in Security Dispute With Captive Reinsurer
January 20, 2020
NEW YORK — AmTrust Insurance Co. has moved for summary judgment on counterclaims asserted by a captive reinsurer, arguing that they fail because the reinsurer failed to post the security required under the terms of the parties’ reinsurance agreement.
In a Jan. 15 motion filed before Judge Edgardo Ramos of the U.S. District Court for the Southern District of New York, AmTrust contends that Signify Insurance Ltd. breached, and continues to breach, the reinsurance agreement by refusing to post sufficient security.
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