BishopAccountability.org
	Allianz, Munich Re Among Insurers to Pay for US Priest Abuse Settlement - Report Hemscott July 17, 2007 http://www.hemscott.com/news/latest-news/item.do?newsId=46868830739546 Frankfurt (Germany) - Allianz SE and Muenchener Rueckversicherungs AG are among more than 10 insurers paying a total of 227 mln usd to cover claims by a California archdiocese that settled a class-action lawsuit against priests suspected of sexually abusing members of their congregations, Financial Times Deutschland reported. Munich Re will likely have to pay more than 10 mln eur, the newspaper cited a spokesman for the company as saying, while adding the sum may still shrink. Allianz does not yet have an estimate of its exposure to the case, it said. The archdiocese agreed to a 660 mln usd settlement, of which it is paying 250 mln usd itself, the newspaper said. Some 508 plaintiffs went up against more than 200 priests in the class-action lawsuit to try cases of sexual abuse that occurred between the 1940s and the 1990s, it said. The church has announced it will have to sell some assets, including real estate, to pay its share of the settlement. maria.sheahan@thomson.com mas/bsd
Any original material on these pages is copyright © BishopAccountability.org 2004. Reproduce freely with attribution.