AXA Belgium Seeks to Compel Century to Arbitrate Setoff Issue
December 8, 2009
NEW YORK - AXA Belgium S.A. has asked a federal judge to compel Century Indemnity Co. to arbitrate the issue of whether AXA may set off sums it owes Century under a 2007 arbitration award against sums allegedly owed by Century under a quota share agreement. AXA Belgium S.A. v. Century Indemnity Co., No. 09-09703 (S.D. N.Y.).
In filing the Nov. 20 petition in the U.S. District Court for the Southern District of New York, AXA seeks to bar Century from litigating the issue in Pennsylvania federal court.
According to the petition, AXA participated as one of the reinsurers under …