KOREA NATIONAL INSURANCE CORPORATION v ALLIANZ GLOBAL CORPORATE & SPECIALITY AG6

[2008] Lloyd's Rep IR 413

COURT OF APPEAL

Before Lord Justice Buxton, Lord Justice Jacob and Lord Justice Moore-Bick

Reinsurance - Direct liability policy against loss arising out of use of aircraft - Helicopter crashing and assured incurring liability - Losses paid by insurers - Judgment obtained by insurers against reinsurers - Action for enforcement - Whether reinsurers entitled to defend enforcement proceedings on basis that the parties had entered into a settlement agreement.