OneBeacon Settles Pa. Reinsurance Dispute with Aviva; Action Dismissed With Prejudice

PHILADELPHIA — OneBeacon Insurance Co. and Aviva Insurance Ltd. have settled their dispute over sums allegedly owed by Aviva for “catch up” billings and other claims submitted by OneBeacon under a global risks reinsurance agreement.

On Nov. 6, Judge Jan E. DuBois of the U.S. District Court for the Eastern District of Pennsylvania dismissed the case with prejudice.

Earlier this year, the judge had found that Aviva is not required to pay OneBeacon Insurance Co. $4.4 million in reinsurance proceeds because the claim is time-barred. However, the judge also said in the May 17 order that issues of fact …