Lockton Asks Judge to Toss Guy Carpenter Suit

NEW YORK - Lockton Re LP is urging a federal judge to dismiss a suit brought by Guy Carpenter & Co. demanding $1.852 million in brokerage arising from the placement of property reinsurance contracts for two insurers. Guy Carpenter & Company LLC v. Lockton Re LP, No. 10-4932 (S.D. N.Y.).

In an Aug. 16 motion before Judge Colleen McMahon of the U.S. District Court for the Southern District of New York, Lockton asserts that the complaint fails to state claims for conversion because Guy Carpenter fails to allege legal ownership or an immediate right to possession of specific, identifiable funds.