Reinsurers To Pay US Fidelity $262M In Asbestos Spat

Law360, New York (August 23, 2010, 6:47 PM EDT) -- A New York state judge has ruled that American Reinsurance Co. and others should pay U.S. Fidelity & Guaranty Co. and The St. Paul Cos. Inc. $262 million plus interest in a reinsurance dispute over the $987.4 million settlement of asbestos claims made against Western Asbestos Co. and Western MacArthur Co.

Judge Richard B. Lowe III of the New York County Supreme Court on Friday overruled the summary judgment requests of American Re, which is now known as Munich Reinsurance America Inc.; Excess Casualty Reinsurance Association,...
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