N.Y. Federal Judge Refuses to Dismiss $30 Million Reinsurance Action

NEW YORK — A New York federal judge has refused to dismiss for lack of personal jurisdiction an action in which Global Reinsurance Corporation of America seeks a ruling that it is not liable to National Indemnity Co. for a $30 million reinsurance billing arising from NICO’s settlement of an underlying asbestos exposure action.

In an Aug. 16 order, Judge Jed S. Rakoff of the U.S. District Court for the Southern District of New York explained that a memorandum explaining his reasons for denying NICO’s motion “will issue in due course.”

The judge also denied Global Re's alternative request to …