Conn. Federal Judge Stays $6.2 Million Reinsurance Action Pending Settlement

HARTFORD, Conn. — A Connecticut federal judge has stayed a $6.2 million reinsurance dispute between Century Indemnity Co. and Travelers Insurance Co. involving a settlement of underlying asbestos claims pending finalization of a settlement.

On May 2, Judge Janet C. Hall of the U.S. District Court for the District of Connecticut granted the parties’ joint motion for a stay. In that motion, the parties said they have agreed to formalize a confidential settlement and that they will execute a final written agreement within the next 45 days.

Travelers issued six excess policies to its Crane Co., a manufacturer and distributor …