Insurer Chubb Corp. said it has $220 million in maximum pre-tax exposure to surety bonds relating to Enron Corp.
Surety bonds, sold by Chubb and other insurers to a wide variety of companies, make payments on financial contracts in the event of a default. Analysts are widely expecting crisis-hit energy firm Enron to default on its financial obligations.
Chubb said its maximum exposure to Enron after tax was about $143 million, or 82 cents per share. It said it had not yet received any claims on the surety bonds.
Topics Chubb
Was this article valuable?
Here are more articles you may enjoy.
Viewpoint: Why Florida Property Insurance Rates Might (and Might Not) Keep Falling 
Camp Mystic Seeks Bankruptcy to Settle Texas Flood Wrongful Death Claims 
Florida Supreme Court Ruling Could Mean New Pressure to Settle High-Dollar Lawsuits 
A Super Yacht Armada Came to Miami, Leaving a Marine Graveyard in Its Wake 
