Axa is being sued by UK insurer Camperdown for more than $1 million and London and Edinburgh Insurance Company for nearly $1.6 million in a breach of contract dispute.

Under the contract, which commenced in 1998, Axa took a 50% line on London and Edinburgh’s energy operating and construction treaty. In December 1999, Camperdown UK took over the reins of London and Edinburgh’s energy account.

The two companies allege that Axa assumed risks relating to the account but later refused to pay the sums due under the terms of the retrocession contract.