Am Re sues GIC Re for $115mn over payment breach
  • X
  • LinkedIn
  • Show more sharing options
  • Copy Link URLCopied!
  • Print
  • X
  • LinkedIn
© 2024 Insider International Limited, company number 15236286, 4 Bouverie Street, London, EC4Y 8AX. Part of the Delinian Group. All rights reserved.

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement
Cookies Settings

Am Re sues GIC Re for $115mn over payment breach

Jairo Ibarra
February 14, 2022
  • X
  • LinkedIn
  • Show more sharing options
  • Copy Link URLCopied!
  • Print
  • X
  • LinkedIn
Legal gavel scales court.jpg

Specialty (re)insurance agency Am Re Syndicate has sued Indian carrier General Insurance Corporation (GIC Re) for $115mn, over a breach of obligations to pay “hundreds of millions of dollars" on business that Am Re underwrote and negotiated on behalf of GIC Re as its agent.

According to court documents reviewed by Inside P&C, Am Re claims that it “expended significant effort to source, underwrite and negotiate a portfolio of reinsurance agreements on GIC Re’s behalf for 2022,” but that the Indian carrier terminated the...

Enter your e-mail to claim a free trial:

Uncover exclusive insights tailored for insurance leaders

    • Stay Informed: Access exclusive industry insights
    • Gain a competitive advantage: Hear first about tactical developments
    • Make better decisions: Understand market dynamics in crucial lines of business
Take a free trial Already a subscriber? Login now

Topics

NewsLegal
jairo ibarra 2024 ii us 2.png
Jairo Ibarra
Senior Reporter
Contact
Gift this article