Liquidator Drops Claims Against Cerberus Holding in $225,885 Reinsurance Case

NEW YORK - The liquidator of The Home Insurance Co. has resolved his breach of contract claim against Cerberus Holding Company LLC in a dispute over $225,885 in reinsurance proceeds.

According to a May 30 notice filed in the U.S. District Court for the Southern District of New York, New Hampshire Insurance Commissioner Roger A. Sevigny voluntarily dismissed the action with prejudice.

Beginning in 1964, Home issued policies insuring Eli Lilly & Co., International Telephone and Telegraph Corp. and General Cable Corp.

The policies were reinsured under facultative reinsurance contracts issued by Trygvesta Forsikring A/S's predecessor, Skandinavia Insurance Company Ltd., …