Travelers Dismisses Suit Against Excalibur Seeking $100,000 in Retrocessional Proceeds

HARTFORD, Conn. — Travelers Indemnity Co. has voluntarily dismissed its suit against Excalibur Reinsurance Corp. in which it sought more than $100,000 in retrocessional proceeds for sums it paid to resolve claims brought against former accounting firm Arthur Andersen LLP.

Travelers filed a notice of voluntary dismissal on Feb. 14 in the U.S. District Court for the District of Connecticut, noting that Excalibur has neither answered the complaint nor moved for summary judgment.

In its Dec. 11 complaint, Travelers accused Excalibur of refusing to pay three retrocessional billings submitted by Travelers under a professional errors and omissions treaty.

According …