Shares in Royal & Sun Alliance (R&SA) took a hit yesterday as news that General Motors (GM) was planning to sue the company to recover multi-million dollar asbestos claims.
According to reports R&SA said yesterday that the lawsuit has no foundation.
The company also reportedly said its subsidiary Royal USA had filed its own action in Delaware for a declaration that it was not liable to defend or indemnity GM for alleged claims.
Despite this shares in the company took a hit yesterday. When the market closed shares were down by 3/4 p to 851/2 p.
