Company issues public statement withdrawing claim against Aon after three days of evidence

24/06/16

A claim for introducer’s commissions, brought by a UK company, Eastcap Limited, against Aon, a major reinsurance broker, has come to an abrupt end.

The case concerned a contract under which Eastcap was to introduce Aon to major potential customers, including government officials, in Romania. In 2010 Aon was appointed to a panel of reinsurance brokers on a compulsory insurance scheme for private households, designed to provide cover against the very high risk of earthquakes and other natural catastrophes in Romania.

After three days of cross-examination of Eastcap’s witnesses in a trial listed for two weeks, the case settled and the parties issued the following public statement:

“The recent claim made against Aon by former introducer Eastcap Limited, for commission on certain Aon Benfield reinsurance placements relating to the Romanian compulsory insurance scheme, has been formally withdrawn by Eastcap. All of the allegations made against Aon in the action have now been retracted by Eastcap. There has been no relationship between Eastcap and Aon since 2008, and Eastcap confirms that no monies have ever been due, or will become due from Aon, and no commission payments by Aon to Eastcap in relation to reinsurance placements have ever been made or will ever be made.”