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News - $300m deal is reached in US.
(From Post Magazine)
Equitas, the reinsurer created to run off the 1992 and prior year's liabilities of Lloyd's syndicates, has confirmed settlements for six policyholders at a cost of $300m (GBP167m).
The reinsurer reached settlements with Kaiser Aluminum Corporation, Crane Company and Congoleum Corporation. The settlements resolve some of the largest remaining direct liabilities facing Equitas.
Since April 2001, Equitas has resolved 35 major direct asbestos settlements, involving the payment of more than $2.9bn, and ...
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