TYSON INTERNATIONAL COMPANY LTD V GIC RE, INDIA, CORPORATE MEMBER LTD

[2024] EWHC 236 (Comm), King's Bench Division, Commercial Court, Christopher Hancock KC, sitting as a High Court Judge, 7 February 2024

Reinsurance – Binding nature of Market Reform Contracts – Effect of subsequent Reinsurance Certificates – Whether disputes subject to English jurisdiction or New York arbitration – Anti-suit junction – Senior Courts Act 1981, section 37

Tyson, a multi-national company operating in the food industry, had a Bermudian captive insurer, TICL. The relevant captive policy insured Tyson against "all risks of direct physical loss of or damage to property" situated in the US or Puerto Rico for the period 1 July 2021 to 1 July 2022.