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.
Viewpoint: Insurance and AI – A Double-Edged Sword 
Alaska Airlines Vows IT Upgrades After Outage Forces 400 Flight Cancellations 
The Future of the Agency in a World of AI 
Catastrophe Bonds’ Huge Market Gains Put Reinsurers on Backfoot 
