Reinsurer Equitas, the Lloyd’s of London affiliate set up to deal handle asbestos cases, and Texas-based Halliburton Co. are reported to have reached an agreement to settle asbestos insurance claims.
According to Reuters news reports, under the agreement the oil services firm will receive $575 million in two payments over an 18-month period.
The agreement reportedly resolves all Halliburton asbestos claims against Lloyd’s. Equitas, which was established in 1996, said the agreement caps the largest direct liability it faced.
Was this article valuable?
Here are more articles you may enjoy.
CEO Sentenced in Miami to 15 Years in One of the Largest Health Care Fraud Cases 
Brown & Brown Files Suit Over Alleged Howden Poaching of 200+ Employees 
California Hit With Powerful Storms Just as Holiday Travel Ramps Up 
Aon Adds to List of Brokers Suing Howden US for Alleged Poaching, Theft 
