Pacific Employers Insurance Demands Payment From AXA Belgium

PHILADELPHIA - Pacific Employers Insurance Co. has sued AXA Belgium S.A. in Pennsylvania federal court for reinsurance proceeds allegedly due and owing under a quota share contract. Pacific Employers Insurance Co. v. AXA Belgium S.A., No. 09-05211 (E.D. Pa.).

The Nov. 9 complaint filed in the U.S. District Court for the Eastern District of Pennsylvania alleges that AXA Belgium has failed to make any payments to PEIC since December 2007.

In July 1978, PEIC, through intermediary Montgomery & Collins, allegedly entered into a reinsurance contract with AXA Belgium, under which AXA Belgium agreed to reinsure on an automatic quota share …