The St. Paul Companies have agreed to pay nearly $1 billion to settle outstanding claims and lawsuits related to asbestos. The news comes on the heels of PPG Industries’ agreement to a $2.7 billion settlement of outstanding asbestos claims against …
Insurer The St. Paul Cos. has indicated it would pay close to $1 billion, before tax and reinsurance recoveries, to settle litigation regarding asbestos coverage for building products firm Western MacArthur, which a St. Paul unit insured more than four …
The St. Paul Companies announced plans to transfer its ongoing reinsurance operations to a newly-formed Bermuda-based reinsurer, Platinum Underwriters Holdings, Ltd. which intends to make a public offering of 75.1 percent of its common shares in order to raise approximately …
The St. Paul Companies appointed Andy Bessette as senior vice president and chief administrative officer. Bessette will oversee Administrative Services, Corporate Communications, Community Affairs, Government Affairs and Telecommunications. He will report to Jay Fishman, chairman and chief executive officer. Bessette …
On Jan. 23, The St. Paul Companies announced a 2001 fourth-quarter after-tax operating loss of $646.7 million, or $3.14 per diluted share, reflecting previously disclosed charges and other actions related to its decision to exit or restructure certain businesses. In …
A.M. Best Co. affirmed the “A+” FSR of The St. Paul Companies’ property/casualty subsidiaries and lowered the company’s long-term debt ratings. Senior debt has been lowered from “a+” to “a;” subordinated debt from “a” to “a,” and preferred securities from …
A.M. Best Co. affirmed the “A+” FSR of The St. Paul Companies’ property/casualty subsidiaries and lowered the company’s long-term debt ratings. Senior debt has been lowered from “a+” to “a;” subordinated debt from “a” to “a,” and preferred securities from …
The St. Paul Companies said it would move out of its money-losing medical malpractice business and would quit or trim some other business lines, cutting an unspecified number of jobs and taking pretax charges of $900 million for increased reserves, …
The St. Paul Companies announced a 2001 third-quarter after-tax operating loss from continuing operations of $545 million, or $2.62 per share. In the year earlier period, the company reported after-tax operating earnings from continuing operations of $157.5 million, or $0.67 …
Jay Fishman, chairman and CEO of The St. Paul Companies announced that Robert J. Lamendola was promoted to executive vice president. Lamendola will continue to serve as president of The St. Paul’s Global Surety and Construction Group, a business with …
