US insurer The St Paul Companies has announced that its second-quarter earnings will be hit by its exposure to bonds issued by a bankrupt policyholder.
The bond in question was issued on behalf of an unnamed health benefits firm.
The commercial insurer revealed its second-quarter figures would be reduced by $56m (£34m) as a result of the bond's failure.
Despite this development, chairman and chief executive Jay Fishman said: "Our business remains solidly on track, and we have not changed our profitability objective for 2003."
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
