KOREA NATIONAL INSURANCE CORPORATION v ALLIANZ GLOBAL CORPORATE & SPECIALITY AG

[2008] Lloyd's Rep IR Plus 8

COURT OF APPEAL

Before Lord Justice Buxton, Lord Justice Jacob and Lord Justice Moore-Bick

Reinsurance – Direct liability policy against loss arising out of use of aircraft – Helicopter crashing and assured incurring liability – Losses paid by insurers – Judgment obtained by insurers against reinsurers – Action for enforcement – Whether reinsurers entitled to defend enforcement proceedings on basis that the parties had entered into a settlement agreement.