Travelers Drops Suit Seeking Indemnity from Excalibur for Grant Thornton Claims

HARTFORD, Conn. —Travelers Insurance Co. has voluntarily dismissed its suit accusing Excalibur Reinsurance Corp. of breaching a reinsurance treaty by failing to pay its share of Travelers’ $3 million settlement of claims brought against accounting firm Grant Thornton.

Travelers filed its notice of voluntary dismissal in the U.S. District Court for the District of Connecticut on Sept. 10. According to the filing, Excalibur neither answered the complaint, nor moved for summary judgment.

In the Aug. 16 complaint, Travelers claimed Excalibur owes $675,000 under an errors and omissions reinsurance treaty. In a separate filing, Travelers sought an order requiring Excalibur …