ANICO Brings $100,000 Counterclaim Against Munich Re

TRENTON, N.J. - In response to a lawsuit demanding $4.3 million in retrocessional proceeds, American National Insurance Co. asserts that it overpaid Munich Reinsurance America Inc. under the parties' contract and is entitled to a refund of more than $100,000. Munich Reinsurance America Inc. v. American National Insurance Co., No. 09-cv-06435 (D. N.J.).

In its answer and counterclaim filed in the U.S. District Court for the District of New Jersey, ANICO further asserts that Munich Re's complaint is barred by its failure to satisfy conditions precedent and by the applicable statutes of limitation and the doctrine of laches.

Munich Re …