Equitas agrees to $300m asbestos settlements

Equitas has announced its agreements to asbestos-related settlements with a further six major policyholders at a total cost of $300m.

Included within these agreements are Kaiser Aluminum Corporation, Crane Company and Congoleum Corporation, making up some of the largest remaining direct liabilities facing Equitas.

Equitas' claims director, Glenn Brace, said: “We continue to seek comprehensive settlements and are currently in negotiations with other major policyholders. We are hopeful that these negotiations will result in further agreements in the coming months.”