Travelers Drops Suit Against Excalibur Seeking $108,705 in Reinsurance for Asbestos Settlement

HARTFORD, Conn. — Travelers Casualty Co. has voluntarily dismissed its suit against Excalibur Reinsurance Co., seeking $108,705 in reinsurance proceeds for an underlying settlement of asbestos claims brought against Zurn Industries.

According to an April 30 notice filed in the U.S. District Court for the District of Connecticut, Excalibur neither answered Travelers’ complaint nor moved for summary judgment.

Travelers Casualty issued an umbrella policy to Zurn, which was in effect from April 1, 1983, to April 1, 1985. This policy was reinsured under three facultative certificates written by Excalibur through its participation in the Johnson & Higgins Willis Faber Syndicate …