The St. Paul Companies issued the following statement from Chairman Douglas W. Leatherdale regarding last Tuesday’s attacks:
“Our primary focus right now is helping our employees and customers through this terrible tragedy. The best thing we can do now is what we do best: to help others rebuild in a time of tragedy. Accordingly, we are now turning our attention to reestablishing our New York City insurance and reinsurance operations in alternate facilities.
“We have received inquiries from the media and others concerning the financial impact of this tragedy on The St. Paul. We expect insurance losses to arise from three principal areas: U.S. primary insurance, reinsurance and Lloyd’s of London.
“However, it is far too soon to predict what the company’s ultimate loss will be for this event or its financial impact on the company. Our exceptional financial strength and our reinsurance arrangements assure that we will not only meet our obligations to our customers, but also continue to flourish in the years ahead.”
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