Judge Confirms Reinsurance Arbitration Award in Favor of ACE INA

NEW YORK — A New York federal judge has confirmed a reinsurance arbitration award issued in favor of ACE INA Insurance (NYSE:ACE) in a dispute involving a termination provision in a quota share contract.

On Sept. 24, Judge Jesse M. Furman of the U.S. District Court for the Southern District of New York held that the arbitration panel did not exceed its authority in finding that ACE’s liability was cut off as of Dec. 31, 1988, and that the contract’s cut-off provision applied to all losses as of May 15, 2007. The judge denied AXA Belgium’s petition to vacate the …