Travelers Sues Generali for $650,000 in Reinsurance Proceeds

HARTFORD, Conn. - Travelers Casualty and Surety Co. is suing the U.S. branch of Generali for $650,000 under reinsurance treaties that covered policies issued to Armstrong Contracting and Supply Co. Travelers Casualty and Surety Co. v. Generali - U.S. Branch, No. 11-215 (D. Conn.).

The Feb. 8 complaint filed in the U.S. District Court for the District of Connecticut seeks reinsurance coverage for a 2007 $449 million asbestos claims settlement.

Generali is the United States-based arm of Assicurazioni Generali S.p.A. and successor-in-interest to General Insurance Company of Trieste & Venice.

Generali allegedly subscribed to a series of reinsurance treaties …