NOVATO -- Fireman’s Fund Insurance Co. today made a brief announcement of plans to increase its reserves for "asbestos and environmental risks" by $301 million.
"The move follows the completion of its regular independent external asbestos exposure review," the statement said.
The insurance carrier asserted the adjustment, figured on a stand-alone statutory basis, "will have no impact on the financial results" of German parent company Allianz Group.
