CRANE (REPESENTING SYNDICATE 53 AT LLOYD'S, 1998 YEAR OF ACCOUNT) v HANNOVER RUCKVERSICHERUNGS-AKTIENGESELLSCHAFT PARK LONDON LTD (THIRD PARTY)

[2009] Lloyd's Rep IR Plus 35

QUEEN’S BENCH DIVISION (COMMERCIAL COURT)

Before Mr Justice Walker

Retrocession - Utmost good faith - Retrocessionaires asserting that reinsurers had failed to disclose and had misrepresented reinsured's underwriting practice - Whether false statements made - Whether facts material - Inducement - Whether duty to disclose information obtained after contract - Whether reinsurers required to disclose their own concerns to retrocessionaires - Marine Insurance Act 1906, section 20.