Cedent Files $17 Million Amended Complaint Against AXA, Generali

KANSAS CITY, Mo. - Continental Casualty Co. has filed an amended complaint against two reinsurers in Missouri federal court, demanding $17 million in reinsurance proceeds for an underlying declaratory judgment action brought by a construction company. Continental Casualty Co. v. AXA Global Risks (UK) Ltd., et al., No. 09-00335 (W.D. Mo.).

The July 19 complaint says AXA Global Risks (UK) Ltd. (now known as Portman Insurance Company Ltd.) and Assicurazioni Generali S.p.A. are obligated to pay their share of loss and expenses incurred in connection with a declaratory judgment entered in favor of CCC's insured, Black & Veatch Corp.

Beginning …