Pa. High Court Denies Review of Summary Judgment Ruling for Swiss Re in Commission Dispute

HARRISBURG, Pa. — The Pennsylvania Supreme Court has denied review of an intermediate court’s finding that Swiss Reinsurance Corp. satisfied its obligations to Eastern Atlantic Insurance Co. by paying commissions under the parties’ reinsurance and retrocessional contracts.

On May 8, the state high court denied Eastern Atlantic Insurance Co.’s petition to appeal a Pennsylvania Superior Court’s holding that Swiss Re paid the 35 percent provisional commission required under the contracts and did not improperly draw against letters of credit.

On Nov. 1, the Pennsylvania Superior Court found that before filing this action, the cedent, Eastern Atlantic Insurance Co., never …