In 2007, seven insurers agreed to pay out an additional $2 billion on the destruction of the World Trade Center, but Scor, the French reinsurer, claimed that Allianz’s part of the settlement did not respect a reinsurance contract the two companies had. Scor had provided reinsurance for Allianz Global Risks on an insurance policy that covered the World Trade Center for then-proprietor Larry Silverstein.

The panel decided that Allianz did not exceed its right and obligations. Scor said that it and its retrocessionnaires will assume to the extent of their commitments, their share in the indemnification obligations relating to the World Trade Center claim.

Scor says that additional costs resulting from the full coverage of two distinct events are estimated to be 39 million euros – or nearly $58 million US - after tax and retrocession.