Lloyd's Law Reports

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

Document

PHOENIX GENERAL INSURANCE CO. OF GREECE S.A. v. ADMINISTRATIA ASIGURARILOR DE STAT

[1986] 2 Lloyd's Rep. 552

COURT OF APPEAL

Before Lord Justice KerrLord Justice Parkerand Lord Justice Balcombe

Reinsurance - Illegality - Aviation contingency business - Whether plaintiffs authorized to underwrite contingency business - Whether plaintiffs under obligation to keep a retention - Implication of terms as to conduct of business - Duration of the risks which could be ceded - Obligation of plaintiffs to credit defendants with premium - Insurance Companies Act, 1974, ss. 1, 2, 11, 83 (4) - Insurance Companies (Classes of General Business) Regulations 1977, Schedules 1, 4.

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