GIC ‘disputes’ contract breach claims and $115m lawsuit filed by AM Re

07-03-2022

GIC ‘disputes’ contract breach claims and $115m lawsuit filed by AM Re

shutterstock/Pavel Kapysh

General Insurance Corporation of India (GIC Re) has “disputed” the claims made by AM Re Syndicate who is suing the Indian government-run reinsurer for allegedly breaking binding authority agreements and working with cedants AM Re had sourced, underwrote, and negotiated for several years on behalf of GIC Re. AM Re is seeking a minimum of $115 million in damages, which so far GIC Re has refused to honour.


GIC Re, AM Re Syndicate, Lawsuit, Breach of Contract, Insurance, Reinsurance, North America, India

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