Reinsurers Ramp Up UK Claim To Hear Bank's $20M Dispute

By Joanne Faulkner (September 8, 2021, 6:57 PM BST) -- British reinsurers have insisted that the High Court is the only place to hear disputes in connection with the payout of more than $20 million in settlements following the collapse of a South African investment scheme more than a decade ago.

A dozen reinsurers, including arms of QBE, Chaucer Corporate Capital and Munich Re, said that England "is the only forum" where all disputes with Absa Group Ltd. over policies can be heard without there being a breach of an exclusive jurisdiction agreement, a Friday reply reads.

The reinsurers also denied in the court filing that proceedings brought by financial services...

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