Odyssey Re Not Entitled to $1.45 Million Relating to Deficit Carry Forward, Cal-Regent Maintains

BRIDGEPORT, Conn. — In its opposition to Odyssey Reinsurance Corp.’s renewed motion for summary judgment, Cal-Regent Insurance Services Corp. maintains that the reinsurer is not entitled to $1.45 million in commission adjustments, arguing that none of the four reinsurance contracts had any provision by which excess loss experience would roll over between contracts.

In its Sept. 30 opposition filed in the U.S. District Court for the District of Connecticut, Cal-Regent further maintains that Odyssey Re is not entitled to recover attorney’s fees relating to this amount.

Odyssey Re entered into four consecutive two-year Garage Liability Quota Share Reinsurance Agreements with …