Seattle-based SAFECO announced that Thursday’s settlement of a case involving J.P. Morgan Chase and 11 insurance companies isn’t expected to have a material impact on SAFECO’s financial results.
In the fourth quarter of 2001, SAFECO reported a pretax $18 million Surety loss-net of reinsurance-due to the Enron bankruptcy. SAFECO is fully reserved for that loss.
Was this article valuable?
Here are more articles you may enjoy.
Florida Regulators Mulling New Rules on Market Conduct Exams, Reporting 
FDA Walks Back Positive Lab Test in Lettuce Cyclospora Outbreak 
Walmart Removes Four Taylor Farms Salads as Recalls Spread 
New Jersey Insurance Agents Are Not Exempt From Consumer Fraud Act: High Court 
