CNA's CEO stated, “The settlement with John Hancock eliminates an exposure from CNA’s book of run-off business. We are pleased to put this matter to rest."
CNA Settles with John Hancock Life Insurance
CNA Financial Corp. has announced an agreement with John Hancock Life Insurance Co. to settle four reinsurance treaties issued by a former CNA subsidiary. The carrier to record an after-tax loss, net of reinsurance, of about $110 million in the third quarter of 2007 in connection with a one-time payment of $250 million for the settlement.
Published on September 7, 2007
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