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Lloyd's Syndicate Withdraws 9/11 Lawsuit Against Saudi Arabia

Lloyd's London's Syndicate 3500 filed a notice on Monday, Sept. 19, to voluntarily dismiss itsfederal lawsuit against Saudi Arabiaover 9/11 claims.

The lawsuit, first filed on Sept. 8, had asserted that Saudi Arabia as well as several Saudi charity and financial organizations were instrumental in helping al Qaida carry out the 9/11 terror attacks. Attorney Stephen Cozen of law firm Cozen O'Connor, who represents Lloyd's, toldInsurance Journalthat he cannot comment on why Lloyd's decided to drop the case 13 days after filing the complaint. He said, however, the suit could be refiled and also that there could be other similar lawsuits filed by other insurers in the future.

Cozen said he cannot talk about the lawsuit other than to say "that we were instructed to voluntarily dismiss without prejudice. That of course means that the suit is free to be refiled and certainly similar suits may be filed by others," he said.

Cozen, the attorney for Lloyd's Syndicate 3500, filed a notice to voluntarily dismiss the lawsuit on Monday, Sept. 19. The case will likely be officially dismissed on Tuesday, Sept. 20, U.S., District Court for the Western District of Pennsylvania Clerk's Office toldInsurance Journal.

Dismissing Lawsuit Without Prejudice

Lloyd's is voluntarily dismissing its lawsuit "without prejudice," meaning the motion seeks to close the case without precluding the possibility of renewal at a later date, the court clerk's office said. "There will be a statistical closing. It will be officially dismissed on Tuesday," according to the clerk's office.

The lawsuit was filed on Sept. 8 at the U.S. District Court for the Western District of Pennsylvania. The insurer charged that Saudi defendants 'knowingly' provided material support and resources to al Qaida in years leading up to 9/11. Thecomplaint described links between Saudi charity organizations and al Qaida and explained how the Saudi government supported al Qaida through these charity organizations.

Pursuant to the terms of the applicable policies of insurance, Lloyd's Syndicate 3500 made 9/11-related claims payments on behalf of its liability insureds towards the individual settlements in an amount in excess of $215 million, according to the court documents.

These liability insureds included airlines, airport authorities, security companies, airplane manufacturers and other parties. Those who received settlements included individuals injured from the 9/11 attacks and families of individuals killed in the attacks, as well as businesses that suffered economic losses.

Defendants named in the complaint were Kingdom of Saudi Arabia, The Saudi High Commission for Relief of Bosnia & Herzegovina, Saudi Joint Relief Committee for Kosovo and Chechnya, Saudi Red Crescent Society, National Commercial Bank, Al Rajhi Banking and Investment Company. Also included as defendants are three Saudi citizens connected to these organizations, Prince Salman Bin Abdul Aziz Al Saud, Suleiman Abdel Aziz Al Saud and Yassin Al Qadi.