LIMIT (NO 3) LTD v PDV INSURANCE CO

[2005] Lloyd's Rep IR 552

COURT OF APPEAL

Before Lord Justice Auld, Lord Justice Tuckey and Lord Justice Clarke

Reinsurance - Conflict of laws - Direct risk and reinsurance written in Venezuela and retroceded into London - Application by retrocessionaires for declaration of non-liability - Retrocession containing disputes clause - Whether clause conferring jurisdiction on the English courts - Whether action more conveniently heard in England or Venezuela.