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| L > SEC Filings for L > Form 8-K on 14-Sep-2009 | All Recent SEC Filings |
14-Sep-2009
Regulation FD Disclosure
On September 11, 2009, certain wholly owned subsidiaries of CNA Financial Corporation, a 90% owned subsidiary of the Registrant ("CNA"), entered into a settlement agreement with Willis Limited, a subsidiary of Willis Group Holdings Limited ("Settlement Agreement") relating to an action commenced in 2008 in the English Commercial Court pertaining to the placement of personal accident reinsurance ("Litigation").
Under the Settlement Agreement, Willis Limited has agreed to pay a subsidiary of CNA $130 million ("Settlement Amount"). The Settlement Agreement includes no admission of wrongdoing by any party and each party has waived and released all claims it may have against any of the other parties arising out of or in connection with the subject matter of the Litigation. The Settlement Amount, net of reinsurance, will increase the Registrant's third quarter 2009 operating results by approximately $54 million after tax and noncontrolling interests.
The information under Item 7.01 in this Current Report is being furnished and shall not be deemed "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information under Item 7.01 in this Current Report shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended.
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