UK insurers settle historic Cape asbestos case

UK industrial materials manufacturer Cape plc has agreed to pay a
£52.5mn ($63.8mn) product liability settlement to Aviva, RSA
and Zurich relating to litigation over the carriers' historic
employers' liability (EL) exposures.
In a statement today, Cape said it would make an upfront payment of
£18mn, inclusive of substantial legal costs, and a deferred
payment of up to £34.5mn over the period from 2018 to 2023.
The trio of insurers brought the case against Cape, which was
histor