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American Financial, Sun Life and Unicover Scandal

Tuesday, February 1, 2000 | 221 | 0 | 0 min read

American Financial Group Inc. will commute its Workers Compensation reinsurance contracts with Reliance Group Holdings to settle disputes over the book managed by Unicover Managers Inc. (now known as Cragwood Managers LLC). The settlement, combined with other factors, should reduce American Financial's earnings by 25 cents to 30 cents a share. Sun Life Assurance Co. of Canada ,Toronto, will reserve $103 million to resolve conflicts over the reinsurance Workers Comp business generated by Unicover Managers (Cragwood Managers). The charge includes the recent Unicover settlement with Reliance Gro...

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