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.
Is the AI Boom a Bubble Waiting to Pop? Here’s What History Says 
Howden US Tells Judge Brown & Brown Employees Fled Due to ‘Mistreatment’ 
High-Net-Worth Risk Appetite Drops as Some Regions Show Stabilization 
AIG’s Zaffino to Step Down as CEO as Aon’s Andersen Steps In 
