New Jersey-based Chubb Corp. acknowledged that it expects to may around $34 million as its portion of the $2.7 billion settlement reached by PPG Industries to settle over 435,000 asbestos related cases against its bankrupt affiliate Pittsburgh Corning. (See IJ Website May, 15)
Chubb’s statement added that it had already reserved for PPG asbestos claims in previous years, and, accordingly, it “expects that this settlement will not have a material impact on its future earnings.”|”chubb, estimates, $34, million, in, claims, from, ppg, asbestos, settlement
Was this article valuable?
Here are more articles you may enjoy.
Zurich CEO Says Staff Let Go as Regulator Finma Imposes Partial Sales Ban 
Lemonade Posts $43M Loss for Q2 as it Continues to Grow Customer Base 
eBay Settles Couple’s Harassment, Stalking Claims for $55.7 Million 
Cost of a Data Breach Reaches Record $5 Million on Average 
