The sale by Royal & SunAlliance of the renewal rights to most of its U.S. business to Travelers is creating job uncertainty for many of the carriers US employees, but workcompcentral understands that the workers' compensation operations in the states are not going to be affected.
Royal is selling the renewal rights to much of its U.S. business to Travelers Property Casualty Corp. because Royal's parent in London is short of cash, facing increasing liabilities from asbestos and the 09/11 World Trade Center disaster. In addition, the company suffered heavy investment losses last year. Under ne...
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