Reinsureds which sued Aon over the collapse over the Aon 77 have been told to pay up, industry sources said today.
When Aon's energy lineslip collapsed in 1999 it caused an estimated $90m of losses, of which around $60m was disputed by the reinsureds.
When negotiations between the two parties collapsed the case ended up in the High Court.
Now the reinsureds have been told to pay up, and the verdicts means that Cotesworth Syndicate 1688 and Euclidian 1243, fronting for Tryg Baltica, be liable to pay losses in excess of $90m.
Cox Syndicate 2591 may also be liable on its share of losses on the lineslip through its reinsurance of Cotesworth Syndicate 535.
