Retrocessional Reinsurer Drops Case Over Premium Payment

Mealey's (May 6, 2016, 1:22 PM EDT) -- NEWARK, N.J. — A retrocessional reinsurer notified a federal court in New Jersey on May 4 that it was dropping its dispute over approximately $9 million in retrocessional reinsurance premiums (National Indemnity Company v. Companhia Siderurgica Nacional S.A., et al., No. 15-cv-00752, D. N.J.).

(Notice of dismissal available. Document #12-160520-002X.)

National Indemnity Co. (NICO) sued Companhia Siderurgica Nacional S.A. (CSN), Catalyst Re Consulting LLC and IRB Brasil Resseguros S.A. on Feb. 2, 2015, in the U.S. District Court for the District of New Jersey. IRB was...
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