Century Drops Action Seeking Appointment of Umpire in Reinsurance Dispute

PHILADELPHIA — Century Indemnity Co. voluntarily dismissed its action asking a Pennsylvania federal court to appoint an umpire to oversee its arbitration of a reinsurance contract dispute with Certain Underwriters at Lloyd’s London.

In a Nov. 3 notice of voluntary dismissal filed in the U.S. District Court for the Eastern District of Pennsylvania, Century says it has dismissed the action without prejudice.

According to Century’s Oct. 14 petition, a dispute arose as to whether Lloyd’s is liable to pay Century’s billings under several reinsurance contracts. The parties agreed to head to arbitration.

The contracts’ arbitration clause requires selection of a …