Iowa Federal Judge Denies Chinese Reinsurers’ Motion to Dismiss Lawsuit

DES MOINES, Iowa — A federal judge has refused to dismiss a lawsuit accusing two Chinese reinsurers of breaching several facultative reinsurance agreements by refusing to pay claims, ruling that process was “successfully and effectively” served on their contractually appointed domestic agent, an Iowa law firm.

In a Sept. 6 order, Judge Rebecca Ebinger of the U.S. District Court for the Southern District of Iowa denied PICC Property and Casualty Co. Ltd., Shenzhen Branch, and PICC Property and Casualty Company Co. Ltd.’s pre-answer motion to dismiss.

In October 2020, GuideOne affiliate Career General Agency LLC (CGA) and PICC entered into …