AXA Unit Settles Suit Against UK Brokerage Over £2.3M Debt

Law360, London (October 4, 2019, 5:11 PM BST) -- A subsidiary of insurance company AXA XL Ltd. has settled a breach-of-contract suit it brought against another brokerage that claimed its former business partner had refused to repay a £2.32 million ($2.80 million) debt that arose from policies they arranged together.

Judge Stephen Phillips said in an order at the High Court on Thursday that the litigation is stayed after the two sides "agreed [to] terms of settlement."  He added that either company can apply to the court if there is a question over enforcement of the agreement.

AXA subsidiary XL Catlin Insurance Company UK Ltd. filed its High Court claim in...

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