OneBeacon to Appeal Confirmation of Awards in Favor of EMLICO

NEW YORK - OneBeacon America Insurance Co. on Sept. 5 announced its intent to appeal a New York federal judge's confirmation of two arbitration awards in which the reinsurer's claims for rescission of reinsurance contracts issued to General Electric's captive insurer were denied. OneBeacon Insurance Co. v. Lines, et al., No. 1:03-07376 (S.D. N.Y.).

In May, Judge Thomas P. Griesa of the U.S. District Court for the Southern District of New York determined that OneBeacon's predecessor, Commercial Union Insurance Co., was not prejudiced by the redomestication of GE's captive insurer, Electric Mutual Liability Insurance Co.

Before the redomestication, General …