NICO Says It Should Not Be Forced to Participate in Reinsurance Arbitration with Transatlantic, AIG

NEW YORK — National Indemnity Co. (NICO) is challenging Transatlantic Reinsurance Co.’s efforts to force it to arbitrate reinsurance claims asserted by various American International insurers, contending that NICO is not a signatory to the reinsurance agreements at issue and therefore cannot be compelled to arbitrate.

In an April 3 opposition filed in the U.S. District Court for the Southern District of New York, NICO says it did not assume rights under the reinsurance contracts via a 2011 administrative agreement it entered into with the AIG insurers.

Transatlantic and its subsidiary, Fair American Insurance and Reinsurance Co. (FAIRCO), reinsured …