Battling baronet's war on Rothschilds

ONE of the world's grandest and oldest insurance salesmen is embroiled in an unseemly legal wrangle with J. Rothschild, the blue-blooded family of financiers.

Baronet Sir Quentin Agnew-Somerville, a 73-year-old alumnus of Dartmouth Royal Naval College, is claiming commission on insurance policies he says he sold to Russian oil producer Lukoil.

Named in Sir Quentin's High Court action are three insurance companies, J. Rothschild Assurance, J. Rothschild International Assurance and St James's Place Unit Trust Group, and their former partner, John Guthrie.

Sir Quentin's Russian adventure began in 1998 when, according to a High Court writ, he struck a deal with Guthrie to split commissions on any Russian insurance business. That year, Sir Quentin travelled regularly to Russia at his own expense, according to the claim, establishing 'very highlevel' contact with Lukoil, which went on to pay insurance premiums of £10.2 million.

But no commission-sharing deal was committed to paper. And when J. Rothschild Assurance hired a new chief executive and Guthrie moved on, Sir Quentin, who lives on the Isle of Man, claims he was 'excluded' from further dealings with Lukoil.

Solicitors working for Sir Quentin and the insurance companies said in a joint statement: 'Sir Quentin believes that his case is a strong one. Mr Guthrie and St James's Place believe that it is not and are vigorously defending the case.'

Sir Quentin is sailing in the Bay of Biscay and is not available for comment.