Order for further particulars varied on appeal in complex financial litigation

Insurance law – practice and procedure – particulars – whether PwC ought to have known that the relevant financial statements and regulatory returns did not give the reported true and fair view of the state of the plaintiff’s affairs for each year of the material period – s. 2 of the Insurance (No.2) Act 1983 – administrators appointed to insolvent Quinn Insurance Ltd. – negligence, breach of contract and breach of duty in or about its auditing of the plaintiff’s books and records in the material period and separately in relation to its regulatory returns – pursuant to Ord. 19, r. 7 compelling the plaintiff to provide further particulars in relation to certain aspects of the claim relating to the allegation that the technical provisions were materially understated – applicable legal principles regarding particulars – appeal allowed in respect of particulars in relation to the alleged underprovisioning of the technical provisions – appeal dismissed in respect of details regarding contemporaneous information and data – appeal allowed in respect of details of alleged avoidable underwriting losses – appeal dismissed in respect of details as costs savings – appeal allowed in respect of increased rates on loss-making business – cross appeal dismissed in respect of calculations of margin over best estimate and the re-estimation process – cross appeal allowed in respect of specification of the then extant actuarial standards and contemporaneous and data – cross appeal allowed in respect of details of loss-making business – cross appeal dismissed in relation to re-opened claims – High Court orders varied.