State Judge Tosses Antitrust Action Against Equitas

NEW YORK - A New York state judge has dismissed a reinsurer's lawsuit accusing Equitas Ltd. of violating the state's antitrust law by conspiring with Lloyd's of London underwriters to drive down retrocessional claims payments to reinsurers. Global Reinsurance Corp. v. Equitas Ltd., No. 600815-2007 (N.Y. Sup., N.Y. Cty.).

In a March 4 opinion, Judge Bernard J. Fried of the New York County Supreme Court ruled that Global Reinsurance Corp. failed to allege a relevant product market as required by New York's Donnelly Act (Gen. Bus. Law § 340).

Global Re entered into retrocessional treaties with certain Lloyd's of London …