Utica Mutual Voluntarily Dismisses $2.7 Million Reinsurance Action Against Munich Re

UTICA, N.Y. — Utica Mutual Insurance Co. has voluntarily dismissed a $2.7 million reinsurance action against Munich Reinsurance America Inc., which arose from an underlying settlement of asbestos exposure injury claims filed against Goulds Pumps Inc.

In an Oct. 15 notice of voluntary dismissal filed in the U.S. District Court for the Northern District of New York, Munich Re has not served an answer or a motion for summary judgment.

Utica insured Goulds Pumps Inc. under various primary and umbrella policies, including coverage beginning on July 1, 1974. In turn, Utica and Munich Re’s predecessor, American Re-Insurance Co., entered into …