SPHERE DRAKE INSURANCE LTD ODYSSEY RE v EURO INTERNATIONAL UNDERWRITING LTD JOHN WHITCOMBE CHRISTOPHER HENTON STIRLING COOKE BROWN REINSURANCE BROKERS LTD STIRLING COOKE BROWN INSURANCE BROKERS LTD NICHOLAS BROWN JEFFREY BUTLER

[2003] Lloyd's Rep IR 525

QUEEN’S BENCH DIVISION COMMERCIAL COURT

Before Mr Justice Thomas

Reinsurance - Retrocession - Spiral - Workers’ Compensation carveout business originating in the US - Binding authority granted by reinsurers for acceptance of business - Arrangement between brokers and coverholders for placement of loss-making business - Whether breach of fiduciary duty by coverholders - Whether knowing assistance by brokers - Conspiracy - Effect of knowledge of director of reinsurers.