Parties Reach Settlement in $1.9 Million N.Y. Reinsurance Arbitration Dispute

NEW YORK — A reinsurer and ROM Reinsurance Management Co. told a New York federal judge that they have settled their disagreement over whether ROM is entitled to recover $1.9 million in reinsurance sums allegedly owed to an insolvent insurer.

A notice of settlement was filed before Judge Dale E. Ho of the U.S. District Court for the Southern District of New York on July 24.

In January 1973, Yosemite Insurance Co. and Dominion Insurance Company of America (DOMA) entered into a retrocessional agreement that contained an arbitration provision. DOMA was placed into liquidation in 1986. The New York County …