Insurer Seeks Dismissal of Declaratory Judgment Claim in $26 Million Reinsurance Action

WASHINGTON, D.C. — An insurer is seeking dismissal of a declaratory judgment claim asserted against it in Washington, D.C., federal court by a financial services provider who seeks payment of a $26 million judgment following a reinsurance arbitration ruling in its favor.

In a Sept. 29 motion to dismiss filed in the U.S. District Court for the District of Washington D.C., Assured Risk Transfer LLC says Vantage Commodities Financial Services I LLC has failed to state a claim against it and, alternatively, that the declaratory judgment claim is duplicative of Vantage’s breach of contract claim against the defendant reinsurers.

Vantage …