Fireman's Fund Boosts A&E Reserves
NU Online News Service, Sept. 13, 9:50 a.m. EST?Fireman's Fund Insurance Company in Novato, Calif. said today that it will receive capital from its parent, Allianz AG of Munich, Germany, to increase its reserves for asbestos and environmental exposure by $750 million.
During the third quarter, the $750 million will be added to current A&E reserves of $760 million, bringing the total A&E reserving to $1.51 billion, Fireman's Fund said.
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