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.... BISHOPSGATE INSURANCE LIMITED Plaintiffs/Respondents -v- NRG VICTORY REINSURANCE LIMITED Defendant/Appellant - - - - - - (Transcript of the handed down judgment of Smith Bernal Reporting Limited, 180 Fleet...VICTORY REINSURANCE LIMITED Defendant/Respondent - - - - - - ©Crown Copyright QBCM1 97/1412 CMS3 1. COMMERCIAL UNION ASSURANCE PLC 2. INDEMNITY MARINE ASSURANCE COMPANY...sixteen excess of loss reinsurance contracts made with NRG. THE FACTS The background facts are that on 24th March 1989 the tanker Exxon Valdez ran aground in Prince William Sound Alaska, thereby causing...
...sums paid by their reinsureds under those settlements. Commercial Union v NRG Victory Reinsurance Ltd24. Two of those disputes led to the...decision of the Court of Appeal in Commercial Union Assurance v NRG Victory Reinsurance [1998] 2 Lloyd's Rep 600. That was an appeal from a judgment of...Union Assurance Co plc v NRG Victory Reinsurance Ltd [1998] 2 Lloyd's Rep 600 at 603 where he said (and Lord Woolf MR and May LJ agreed with his...
...NRG Victory Reinsurance Ltd. [1998] 2 Ll. Rep. 600. It is unnecessary to decide upon the correctness or otherwise of the Court of Appeal’s obiter observations on the...[1985] 1 Lloyd's Rep 312, 330, per Robert Goff LJ; Commercial Union Assurance Co. Plc v. NRG Victory Reinsurance Ltd. [1998] 2.... 2. Essentially the result of this appeal is dictated by the agreed fact that the reinsurance contract that is the subject of the appeal is governed by English law and by the well established...
...claim recourse from reinsurers. Nor does this court's decision in Skandia International Corp. v. NRG Victory Reinsurance Ltd... Introduction1. The issues before us arise from a facultative reinsurance placed with Gan Insurance Company Limited of London ("Gan") by The Tai Ping Insurance Company...Limited ("Tai Ping") in March 1996. The reinsurance was for 2%, part of a line of 35%, underwritten by Tai Ping on an erection all risks and third party liability insurance taken out by Winbond...
.... Commercial Union Assurance v NRG Victory Reinsurance [1998] 2 Lloyd's Rep 600 is a well-known reinsurance case arising out of the grounding of and consequent spillage ...question whether Enterprise was or would have been liable in the Texas proceedings. Aikens J followed the approach of the Court of Appeal in the NRG Victory case. He held [at 80] that although that was a case of reinsurance...Union v NRG Victory Reinsurance [1998] 2 Lloyd's Rep 600 at 608-9 [Back] Note 4 In MDIS v Swinbrook [1999...
...the court feels unable to reach even the provisional conclusion usually required. Such a case was Re NRG Victory Reinsurance Ltd [2006] EWHC 679 (Ch). In that case, like this case...Re NRG Victory Reinsurance Ltd at [17], which to my mind would require a factual analysis too detailed to be workable). As it seems to me, the exceptions reflect the long-established principle that...single meeting at the Company's own risk, as Lindsay J did in Re NRG Victory Reinsurance. 102. A more detailed explanation from the Regulators as to what they would intend to do...
...Limited (Colbourne) and NRG Victory Reinsurance Limited (NRGV), as applicants, for: (1) an order under the Financial Services and Markets Act 2000 s 111(1) sanctioning an insurance business transfer...addition, as part of the Berkshire Hathaway Group of companies, NRG is of very considerable financial strength. Its book of business consists of both direct and reinsurance business which is predominantly...scheme which effects the transfer to NRGV of all the general insurance and reinsurance business carried on by Colbourne and (2) ancillary orders under the Financial Services and Markets Act 2000 s 112...
...refused an application by the Respondent employers, NRG Victory Reinsurance Ltd to strike out an Originating Application made by Mr Alexander, the Applicant. The Application was made...
.... Mr Lockey described this submission, based as it was on the judgment of the Court of Appeal in Commercial Union Assurance Co. Plc and ors v. NRG Victory Reinsurance Ltd...Defendant ("Lexington") under a contributing facultative reinsurance contract ("the Reinsurance Contract") in respect of Lexington's underlying insurance of Aluminum Company of America ("Alcoa"). Lexington...reinsurance cover was 36 months from noon on 1 July 1977 until noon on 1 July 1980. These dates were intended to coincide with the period of the underlying insurance. The subject matter of both the reinsurance...
...any other state. 48. In Commercial Union Assurance plc v. NRG Victory Reinsurance [1998] 1 Lloyd's Rep. 80...referred to the observations of Potter LJ. on the identical policies in Commercial Union Assurance Co plc v. NRG Victory Reinsurance Ltd [1998] 2 Lloyd's Rep...before Clarke J in Commercial Union v. NRG Victory, supra, I am not able to agree with his reasoning, albeit obiter, as to the proper law. He was, in particular, mistaken in his...
...not the latter proposition. 73. In Commercial Union Assurance Co Plc. v NRG Victory Reinsurance Ltd [1998] 2 Lloyd's Rep 600 the Court of...was not manifestly perverse. 74. The Court gave effect to this conclusion by holding that it was an implied term of the reinsurance contract in question that, absent any...foreign court was to be treated as binding arose as a result of the preparedness of the Court of Appeal to imply a term of some considerable complexity into the reinsurance contract in question, which...
...363. He also relies on the subsequent decision of the Court of Appeal in Commercial Union Assurance Co v. NRG Victory Reinsurance Ltd...Assurance Co v. NRG Victory Reinsurance [1998] 2 Lloyd's Rep 600. The issue which arose in the context of a reinsurance contract was whether ascertainment could be...rightly decided, and that the principle laid down in it is applicable to the present one."34. These passages reflect the principle applicable to contracts of reinsurance as...
...with the statement by Potter LJ in Commercial Union v NRG Victory Reinsurance at 611 LHC: - "it was for the judge to form his own view of whether or not an arguable defence had been shown...substantive law is the Reinsurers' liability to AZICL under the Reinsurance Contract to be determined?(3) In relation to the latter, what is the effect of the "follow the...relation to the appeal. Introduction3. The claim the subject-matter of the arbitration arises under a number of Policies of Reinsurance written by the claimants, whereby...
...including: West Wake Price & Co v Ching [1957] 1 WLR 45, 48-51; Commercial Union Assurance v NRG Victory Reinsurance [1998] 2 Lloyd's Rep 600; MDIS v Swinbank [1999...the case of ACE Bermuda, the second respondents, that was subject to a limit of $ 100 million per occurrence. The reinsurance contracts covered the period 31 December 2000 to 31 December 2003. AZICO had...Integrated Occurrence. The claimant claims in the present proceedings that it is entitled to be indemnified by the defendants pursuant to the reinsurance contracts, in respect of all sums it has paid...
...."57. In Commercial Union Assurance Co Plc v NRG Victory Reinsurance Limited [1998] 1 Lloyd's LR 80, Clarke J stated, at...reinsurance market on the same terms and conditions "as original" including, specifically, the insured period of 1st July 1977 to 1st July 1980. 2. It was necessary for Alcoa to...International Insurance Company Ltd ("Wasa") and AGF Insurance Ltd ("AGF") who had taken 2.5% of the reinsurance. Wasa and AGF ("the reinsurers") have declined to pay on the basis that the reinsurance...
..., Skandia International Corp v NRG Victory Reinsurance Ltd [1998] Lloyd's Law Rep I & R 439 at 461, Structural Polymer Systems Ltd v...Capel-Cure Myers Management Ltd v McCarthy [1995] Lloyd's Reinsurance Law Rep 498, Mr Shapiro contended that, in such circumstances, if the Claimant's legal costs were reasonable, then the Defendant...the accident did not arise out of the use of the minibus. v) In King v Brandywine Reinsurance (UK) Ltd [2004] 1 Lloyd's Rep IR 554 Colman J...
...adjudication of its rights for coverage under the Subject Insurance Policies, T&N filed two actions captioned T&N Plc vs. Syndicate 990, NRG Victory Reinsurance Co and Mendes and Mount and T&N, Plc vs...syndicates, act as assignee of Turner & Newall's rights and defenses against Syndicate 990 and NRG Victory Reinsurance Company. Based upon the foregoing please...rights for coverage under the Subject Insurance Policies, T&N filed actions against Syndicate 990, NRG Victory Reinsurance Co and against Syndicate 190 ( the "Declaratory Actions") and that the...
...common interest because 100 per cent have signed up to a support agreement. In my view, this demonstrates and reflects, albeit at a slightly earlier stage, the wisdom of Lindsay's comments in NRG Victory Reinsurance Ltd...
...judge considered including: West Wake Price & Co v Ching [1957] 1 WLR 45, 48-51; Commercial Union Assurance v NRG Victory Reinsurance [1998] 2 Lloyd's Rep 600; MDIS v.... In the case of ACE Bermuda, the second respondents, that was subject to a limit of $ 100 million per occurrence. The reinsurance contracts covered the period 31 December 2000 to 31 December 2003. AZICO...the Notice of Integrated Occurrence. The claimant claims in the present proceedings that it is entitled to be indemnified by the defendants pursuant to the reinsurance contracts, in respect of all sums...
...parties referred me to the decision of the Court of Appeal in Commercial Union Assurance Co PLC v NRG Victory Reinsurance Ltd.[42] That case was one of...claimed under its excess of loss reinsurance with NRG and sought summary judgment. NRG contended that it had an arguable defence that CU was under no liability to Exxon under Section One of the underlying...Commercial Union Assurance Co v NRG Victory Reinsurannce [1998] 2 Lloyd's Rep 600, referred to in another context above. [Back] Note 131 See paras 40 42 of the judgment. [Back] Note...