SAFECO Not Expecting Material Impact from J.P. Morgan Settlement
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.
Popular Today
- Reinsurers Least Successful Acquirers in Industry M&A: Analysis
- Viewpoint: Japan’s $550B Bet on America—What it Means for the US Insurance Market
- Carnival Cruise Passenger Served 14 Shots Awarded $300,000 After Fall Down Stairs
- Marsh Aims to Be ‘AI Winner’ by Focusing on Gains in Growth, Productivity, Efficiency