AXA Unit Wins €7.7M In Pocketed Premiums From Agent

By Sophia Dourou (August 5, 2022, 3:49 PM BST) -- A London judge ordered an imprisoned underwriting agent on Friday to return more than €7.7 million ($7.8 million) to AXA subsidiary XL Insurance after pocketing millions in policy premiums and draining his company's accounts to avoid paying it back.

David Edwards QC, sitting as a judge of the High Court, found that Paul Corcoran breached his contract with the insurer through Ipors Underwriting Ltd., where he was the director and sole shareholder, in a hearing held in the defendant's absence.

"It is plain Mr. Corcoran has been served with documents and is aware of this hearing taking place," Judge Edwards said. "It seems...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!