Hopewell International Insurance Ltd., is not suing its US insurance partners as reported in The Royal Gazette on Tuesday.

Hopewell International suing US partners for $2.3 million Bermuda insurer Hopewell International Insurance Ltd., which ceased writing business this summer, is suing its US insurance partners for nearly $2.3 million, the balance of a $3.3 million loss claim.

Hopewell, a company managed by International Risk Management Group (IRMG) Ltd.

company, has taken out a writ for $2,284,189.40 against North American Fidelity & Guarantee Ltd. and Fidelity & Guarantee S.A., formerly North American Fidelity & Guarantee Ltd.

Hopewell, earlier this year, won judgment in the Bermuda Supreme Court for a near million-dollar payment against the same defendant, with regard to the outstanding claim.

IRMG executive vice president, Mr. Graham Brice, said the latest action by Hopewell was an extension of the original claim.

Mr. Brice said, "Hopewell has now settled the loss. The original claim for a million dollars from the original writ was awarded to Hopewell by the Bermuda Courts. This is a further extension of that. It is just increasing the amount they owe us, which has gone now from about a million dollars to about $3.3 million.'' Hopewell was a Bermuda-domiciled insurance and reinsurance company. The pool was owned by 23 companies and on June 30 it transferred the unexpired portion of its property and marine business to a new firm, Harrington International Insurance Ltd.

The new company has been formed to write engineered property risk business for major industrial groups in the alternative risk transfer (ART) market.

Meanwhile, North American Fidelity & Guarantee Ltd. lost a judgment in the Bermuda Supreme Court June 15, to the tune of US$2,525,682 plus costs or interest of $126,422.51 in favour of New York Marine & General Company.