Stonewall Insurance v. Fortress Reinsurers Managers, Inc.

PARKER, Judge.

Plaintiff first contends that the trial court erred in failing to conclude as a matter of law that amounts Stonewall reinsured through treaty insurance are held by plaintiff “for its own account,” or, alternatively, that Penn Re’s company retention language is ambiguous and that such ambiguity must be construed in favor of Stonewall. The question is what do the words “for its own account” mean. Plaintiff contends that “for its own account” means net retention plus treaty reinsurance; defendant contends “for its own account” means only net retention. Net retention is that amount…