Judge Confirms $336,734 Arbitration Award in Favor of ACE

NEW YORK - A New York federal judge has confirmed a $336,734 reinsurance arbitration award in favor of ACE Property & Casualty Insurance Co., noting that neither the award nor the motion to confirm was opposed. ACE Property & Casualty Insurance Co. v. AXA Re, No. 11-7050 (S.D. N.Y.).

On Jan. 9, Judge Denise Cote of the U.S. District Court for the Southern District of New York ruled that ACE demonstrated that there is no question of material fact.

ACE Property & Casualty Insurance Co. and Illinois Union Insurance Co. (ACE, collectively) are successors and assignees of insurers that entered …