AmTrust Fights Cap Costs In London Under Syndicate Deal

By Silvia Martelli (May 13, 2022, 2:35 PM BST) -- AmTrust has told the High Court it doesn't have to cover expenses beyond £1 million ($1.2 million) for two reinsurers after they acquired its economic interests in a Lloyd's of London syndicate, saying in a court that it never agreed to the payment.

AmTrust International Insurance Ltd. said in a defense filed May 9, which has now been made public, that it did not agree to bear costs for the reinsurers exceeding £1 million per year. The costs included operating expenses, taxes, the fee for a Lloyd's subscription and any payments to managing agents.

Premia Reinsurance Ltd. and Arch Reinsurance Ltd. reached a...

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