New York High Court: Market Power Not Stated Against Reinsurers

New York High Court: Market Power Not Stated Against Reinsurers

ALBANY, N.Y. - The New York Court of Appeals on March 27 ruled that Global Reinsurance Corp. failed to sufficiently allege that Equitas Ltd. engaged in a conspiracy in the worldwide market for retrocessional coverage in violation of the Donnelly Act, New York's antitrust law, because Global did not allege that Equitas had the power to inflict market-wide anticompetitive injury (Global Reinsurance Corporation - U.S. Branch v. Equitas Ltd., et al., No. 53, N.Y. App.; 2012 N.Y. LEXIS 550).

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