SBM settles with most primary insurers over Yme loss

A majority of insurers on the $500mn limit primary layer of SBM
Offshore's construction all risks policy have settled with the
Dutch-based offshore energy specialist for $247mn after a
long-running legal battle.
In a stock exchange announcement this morning, SBM said carriers
providing 73.6 percent of the insurance on the Zurich-led layer had
agreed to a cash payment. However, it added that legal action
against the remaining insurers, including those on two excess
layers, remained ongoing pendin