Munich Re to pay Travelers

Travelers’ subsidiary Fidelity & Guaranty was awarded $262.3m plus interest against a group of insurance companies including American Re-Insurance, part of Munich Re in an asbestos-injury dispute from the 1970s, Bloomberg reports.

The Munich Re unit was ordered to pay the most - $202.5m plus interest.

“We are currently evaluating the ruling to assess all of the issues, which will form the substance of an appeal,” a spokeswoman for Munich Re, said.