STORY FROM: Reinsurance & Arbitration

Captive Reinsurer Opposes AmTrust’s Motion for Summary Judgment in Security Dispute

NEW YORK — A captive reinsurer has opposed AmTrust Insurance Co.’s motion for summary judgment on counterclaims asserted by a captive reinsurer, arguing there are questions of fact as to whether the reinsurer’s alleged failure to post security justified AmTrust’s purported breach of the parties’ reinsurance agreement.

In a March 13 opposition filed before Judge Edgardo Ramos of the U.S. District Court for the Southern District of New York, Signify Insurance Ltd. contends that AmTrust stopped approving policies months before Signify was obligated to post security.

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