Bermuda’s ACE issued a brief statement indicating that the $2.7 billion settlement concluded by PPG and some 30 insurers (See IJ Website May 15) would have a minimal effect on the company.
ACE said only that “it is a participant in the PPG Industries Inc. asbestos settlement agreed to in principle yesterday,” and that “its share of the settlement would not impact future earnings as reserves had already been established for this exposure.”
The company did not give a figure of the specific amount it may eventually have to pay out on settlement claims.
Was this article valuable?
Here are more articles you may enjoy.
Karen Read Sues Police Agencies That Investigated Her Boyfriend’s Death 
US Declares Power Emergency in Southeast as Heat Strains Grids 
Hedge Funds Are Expanding Desks Designed to Profit From Natural-Catastrophe Risk 
Georgia Brokers and Agents Alarmed After Court Ruling Expands Liability for Them 
