Cedents Likely to Settle $465,000 Suit Against Transatlantic

NEW YORK - Transatlantic Reinsurance Co. is in settlement talks with three insurers to resolve a battle over $464,983 in unpaid reinsurance billings that stem from losses sustained by eight major U.S. companies. Century Indemnity Co., et al. v. Transatlantic Reinsurance Co., No. 07-10712 (S.D. N.Y.).

On Oct. 10, Judge Victor Marrero of the U.S. District Court for the Southern District of New York entered a conditional order of discontinuance, explaining that "the parties have engaged in productive discussions with a substantial chance of resolving this action" and agreed to a stay of further proceedings.

According to the suit, filed …