MOTOR UNION INSURANCE COMPANY, LTD. v. MANNHEIMER VERSICHERUNGSGESELLSCHAFT.

(1932) 43 Ll L Rep 241

KING'S BENCH DIVISION.

Before Mr. Justice Goddard.

Insurance-Agreements between insurance companies-M. U. Co. to accept risks on English market as agents for M. Co.- M.U. Co. to issue policies in their own name pro tanto as agents for M. Co.- Losses under agreement-Agreement terminated-Claim by M.U. Co. (as agents) against M. Co. (as principals) for indemnity-Further claim on an account stated-Enforceability-Stamp Act, 1891, Sect. 93-Marine Insurance Act, 1906, Sects. 22, 23-Held, that there being no mention of the M. Co. in the policies issued by the M.U. Co. there was no privity between the assured and the M. Co., and any premiums received and losses paid by the M.U. Co. were received and paid by them as principals in the transaction; and that therefore the agreement between the parties was in the nature of reinsurance and was unenforceable against the M. Co.; further (following In re Home & Colonial Insurance Co., 34 Ll.L.Rep. 463) that the M.U. Co. could not recover on part of their claim as upon an account stated.