S&P placed its ratings on The St. Paul Cos. Inc. and its insurance subsidiaries on CreditWatch with negative implications because of the uncertainty associated with St. Paul’s determination to seek more aggressive early resolution of certain pending asbestos and environmental-related litigation and the resulting impact on this year’s capital and earnings. The development was disclosed in St. Paul’s Form 10-Q, which was filed on May 15. S&P plans to meet with St. Paul’s management to review the development.
Was this article valuable?
Here are more articles you may enjoy.
Depreciation on ACV Is OK, Court Says in Knocking Down Class Action vs. Cincinnati 
Chubb: Cyber Claim Severity Nearly Doubled for Large Businesses 
Viewpoint: How Will the Middle East War Affect the Insurance Sector? 
Viewpoint: Insurance Broker Valuations – The Elephant in the Room From This Issue
