Allianz Cornhill is taking legal action against two former directors of defunct insurance broker Fidelis Insurance Group to re-coup more than £100,000.

The insurer is suing Fidelis directors Maurice Geller and Jonathon Ellis for monies due under personal guarantees that both men took in the earlier 1990s.

The full amount that Allianz Cornhill is seeking to claim from both the directors is £104,479.

Fidelis went into administrative receivership in November 2002. The receiver is Valentine & Co.

The broker traded at 4 Dancastle Court, 14 Arcadia Avenue, London N3, and specialised in commercial lines business.

It also had a reinsurance company called Fidelis Reinsurance Management.

It is understood that broker Stuart Alexander acquired the company's client list and took three or four staff when Fidelis went into receivership.

A spokesman for Allianz Cornhill confirmed that Fidelis was contracted under an agency agreement and that Geller and Ellis took personal guarantees from Allianz Cornhill, in 1994 and 1997 respectively.

He said the two men had until 20 January to lodge a defence.