AXA Unit Sues UK Insurance Brokerage For £2.3M Debt

Law360, London (September 3, 2019, 4:03 PM BST) -- A subsidiary of insurance company AXA XL Ltd. has launched legal proceedings in London against another brokerage for breach of contract, claiming that the firm has refused to pay a £2.32 million ($2.80 million) debt that arose from policies they jointly arranged.

XL Catlin Insurance Company UK Ltd. claims that Rural Insurance Group Ltd. has paid it just £101,000 of £2.42 million it allegedly owes under a deal entered into by the companies in 2014.

In its claim, filed with the High Court on Aug. 16, XL Catlin has alleged that Yorkshire-based Rural Insurance is in breach of trust and fiduciary...

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