Germany’s Deutsche Bank has reached an agreement with its insurers over a New York building that was wrecked by the September 11 attacks on the neighbouring World Trade Centre (WTC). Under the settlement Allianz and Axa will pay Deutsche Bank $140 million.

The bank sued Allianz and Axa last year for payment for the total loss of the 40-storey building. Other claims on other buildings owned by the bank remain in dispute.

Meanwhile, as the case between WTC leaseholder Larry Silverstein and a consortium of insurers drags on in a Manhatten court, the Wall Street Journal reported last week that about $1.3 billion has so far been handed out over WTC claims, with the main beneficiaries being lawyers.

Mr Silverstein’s lawyers have received at least $100 million so far to press the case against the insurers. Most of the rest has gone in business interruption claims.