Century Says It Satisfied Reinsurance Obligations to OneBeacon for B.F. Goodrich Claim

BOSTON — In response to a suit filed by OneBeacon America Insurance Co. (NYSE: OB) demanding $137,006 in reinsurance for an underlying environmental claim, Century Indemnity Co. asserts it has paid the full amount under the facultative certificate at issue and owes nothing to OneBeacon.

In its July 31 answer filed in the U.S. District Court for the District of Massachusetts, Century also asserted several affirmative defenses, including estoppel, waiver and statute of limitations.

In 1969, OneBeacon’s predecessor, Employers Liability Assurance Corp., issued an excess liability policy to B.F. Goodrich & Co., effective from Jan. 1, 1969, to Jan. 1, …