Fencourt Re seeks to avoid $85 million in losses

A Bermuda-based reinsurer has filed a lawsuit in the United States in an attempt to avoid being stuck with losses totaling $85 million.
Fencourt Reinsurance Company Ltd., which is incorporated and based in Bermuda, filed a civil complaint against ITT Industries Inc., which is incorporated in Indiana and based in New York, at the U. S. District Court for the Eastern District of Pennsylvania on October 24, 2006.