CNA: $600 Million Due From Gerling Group
NU Online News Service, March 13, 2:25 p.m. EST?CNA Financial Corporation said its property-casualty insurance subsidiaries have some $600 million of reinsurance receivables due from Gerling Versicherungs-Beteiligungs, a Cologne, Germany-based holding company for a group of insurance and reinsurance carriers.
Chicago-based CNA noted that of this amount, all but $170 million is supported by collateral in the form of letters of credit, trust agreements, funds' withheld balances and other payable offsets.
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