Reinsurer Equitas, the Lloyd’s of London affiliate set up to deal handle asbestos cases, and Texas-based Halliburton Co. are reported to have reached an agreement to settle asbestos insurance claims.
According to Reuters news reports, under the agreement the oil services firm will receive $575 million in two payments over an 18-month period.
The agreement reportedly resolves all Halliburton asbestos claims against Lloyd’s. Equitas, which was established in 1996, said the agreement caps the largest direct liability it faced.
Was this article valuable?
Here are more articles you may enjoy.
US P/C Rebounds to Post Q1 Underwriting Gain; Net Income Doubles 
Older, Wealthier Renters Drive Changes in Insurance Needs 
5 Years After Surfside Collapse: Safer Condos, More Transparency for Underwriters 
Wanted: War-Zone Divers to Scrape Barnacles From Ships in Persian Gulf 
