St. Paul Insurance Co. Agrees To Settle Asbestos Claims for $975 Million

HAYWARD, Calif. - The St. Paul Insurance Companies announced June 3 that it has entered into an agreement to settle all asbestos claims arising from policies issued to Western Asbestos Co. beginning in the 1930s. Western MacArthur Co., et al. v. USF&G Co., No. 721595-7 (Calif. Super. Ct., Alameda Cty.).

Under the terms of the settlement agreement, pending coverage litigation between St. Paul and Western Asbestos predecessors Western MacArthur and USF&G has been stayed, according to a statement issued by the insurer.

Western MacArthur acquired Western Asbestos Co. in 1967, several years after St. Paul said it stopped writing policies …