Insurer seeks to enforce ‘$27 m arbitration award’

An insurer has asked a court to order Bermuda-based Scandinavian Reinsurance Company Ltd. to pay $27.88 million to satisfy a final arbitration award.Continental Casualty Company, of Chicago, filed a motion to confirm the award against Scandinavian Re at the U. S. District Court for the Northern District of Illinois on April 21, 2005. The award was issued in two parts, on March 23 and April 16, 2005, and concerned a dispute over two reinsurance contracts, stated the petition.