Republic Entitled to $228,766 from GAN under LMX Quota Share Contracts, Ill. Federal Judge Rules

CHICAGO — Republic Insurance Co. (now Starr Indemnity Liability Co.) is entitled to $114,629.45 in damages from Group Des Assurances Nationales (GAN) under certain London Market Excess Quota Share Treaties, an Illinois federal judge has ruled.

On March 20, Judge William T. Hart of the U.S. District Court for the Northern District of Illinois further held that GAN must pay Republic $114,137.04 in prejudgment interest.

In 1972, Republic entered into a written "syndication agreement" with Pan Atlantic Group Inc. and Pan Atlantic Reinsurance Company Limited. PAG was appointed as Republic's underwriting agent and authorized to issue reinsurance policies in Republic's …