Simon Bryan QC and Guy Blackwood QC (of Quadrant Chambers) appeared on behalf of the successful respondent, Arab Insurance Group, in the Court of Appeal case of Axa Versicherung AG v Arab Insurance Group. The Court dismissed the appeal of Axa Versicherung AG (“Axa”) and upheld the first instance judgment of Mr Justice Males (reported at [2016] Lloyd’s Rep. I.R. 1). Axa purported to avoid two first loss treaties, written by a predecessor insurer, on the basis of material non-disclosure of prior loss statistics. It was held that Axa had failed to prove that the relevant underwriter was induced to write the treaties. The lead judgment of Lord Justice Christopher Clarke contains guidance on the test for inducement, including matters to be pleaded or put in evidence, where the dispute concerns the content of a fair presentation and what would have been said to an underwriter on a hypothetical presentation of the risk.
Simon Bryan QC and Guy Blackwood QC were instructed by Costas Frangeskides and Paul Wordley of Holman Fenwick Willan LLP.
