RIVER THAMES INSURANCE CO. LTD. v. AL AHLEIA INSURANCE CO., S.A.K.

[1973] 1 Lloyd's Rep. 2

COURT OF APPEAL

Before Lord Denning, M.R., Lord Justice Megaw and Mr. Justice Brabin

Insurance - Reinsurance treaty - Confirmation and agreement of underwriting accounts - Whether initialling of accounts by reinsurer's agent sufficient - Whether equitable set-off applicable - Alleged miscalculation of portfolio transfer - Whether dispute which should go to arbitration. Practice - Order 14 proceedings - Reinsurance treaty - Action for amount due on underwriting accounts - Whether initialling of confirmation and agreement of underwriting accounts by reinsurer's agent sufficient - Alleged miscalculation of portfolio transfer - Whether dispute which should go to arbitration - Whether equitable set-off applicable.