D R INSURANCE COMPANY V SEGUROS AMERICA BANAMEX D R INSURANCE COMPANY V IMPERIO COMPANHIA DE SEGUROS

(1993) 2 Re LR 129

Queen’s Bench Division Commercial Court

Before Mr Adrian Hamilton, QC sitting as a Deputy Judge of the High Court

Illegality - Pool - Unauthorised members - Marine, non-marine and aviation pools managed on behalf of members in London - Pool agreement providing for automatic retrocession by fronting company to other pool members - Insurance companies not authorized to carry on business as insurance companies by Insurance Companies Acts 1974-1981 - Whether alleged retrocessions illegal and void - Whether Financial Services Act 1986 applicable to contracts retrospectively.