Ace Seeks Confirmation of Reinsurance Arbitration Award

NEW YORK - Ace Property & Casualty Insurance Co. has moved a New York federal judge to confirm a final award issued in a reinsurance arbitration with Global Reinsurance Corporation of America. Ace Property & Casualty Insurance Co. v. Global Reinsurance Corporation of America, U.S. Branch, No. 11-6945 (S.D. N.Y.).

In an Oct. 3 petition filed in the U.S. District Court for the Southern District of New York, Ace asserts that Section 9 of the Federal Arbitration Act requires confirmation of the June award, which has been sealed by the court.

According to the petition, Global Re's predecessor, Gerling Global …