Travelers Companies, St.Paul Fire & Marine Insurance Lodge Claim, Says Old Mutual
13 March 2018 - 6:52PM
Dow Jones News
By Maryam Cockar
Old Mutual PLC (OML.LN) said Tuesday that The Travelers
Companies Inc. and St. Paul Fire & Marine Insurance Co. have
lodged a claim in a U.S. court against Old Mutual related to
previously disposed U.S. assets.
The FTSE 100-listed banking group said the claim lodged in the
district court of New York was related to pre-existing head office
legacy items.
Old Mutual said it believes that the claim is "without merit and
we will resist accordingly."
The company said that it expects the "managed separation" of the
assets to be completed by the end of 2018.
Write to Maryam Cockar at maryam.cockar@dowjones.com
(END) Dow Jones Newswires
March 13, 2018 03:37 ET (07:37 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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