N.J. Judge Terminates Motion to Dismiss Lawsuit Involving $9 Million in Retrocessional Premium

NEWARK, N.J. — A New Jersey federal judge has terminated Catalyst Re Consulting LLC’s motion to dismiss National Indemnity Co.’s lawsuit involving $9 million in premium for a 2008 retrocessional contract, pending disposition of the parties’ personal jurisdiction dispute.

In a June 10 order, Judge Jose L. Linares of the U.S. District Court for the District of New Jersey clarified that Catalyst Re is not required to take further action until the jurisdiction issue is resolved.

Brazilian insurer Sul America Cia Nacional de Seguros provided operations loss coverage to Companhia Siderurgica Nacional S.A. (CSN). The policy was originally in effect …