CNA: $600 Million Due From Gerling Group
NU Online News Service, March 13, 2:25 p.m. EST?CNA Financial Corporation said its property-casualty insurance subsidiaries have some $600 million of reinsurance receivables due from Gerling Versicherungs-Beteiligungs, a Cologne, Germany-based holding company for a group of insurance and reinsurance carriers.
Chicago-based CNA noted that of this amount, all but $170 million is supported by collateral in the form of letters of credit, trust agreements, funds' withheld balances and other payable offsets.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
