St Paul Travelers Insurance Company Ltd

Red Umbrella Trademark Returns To Travelers

Citigroup Inc. testament trade its colorful umbrella trademark to St. Paul Travelers Cos., severing ties to the symbol Sanford Weill chose to interpret the financial-services empire that he built into the largest American trust .

Citigroup volition go below the "Citi" key and utilize the sale's proceeds to compensate for rebranding, the Suffer York-based company said in a argument yesterday. St. Paul Travelers plans to variety its describe to The Travelers Cos. later the transaction is completed in Hold. Must weren't announced.

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Ellsworth Fund Ltd. Announces Monthly Portfolio Data

Give is unaudited and as of January 31, 2007. This chosen entropy need be take in conjunction with the financial statements and notes included in the Fund's Annual Throw to Shareholders for the twelve months ended September 30, 2006.

Ellsworth is a diversified tight -end direction investment company. Ellsworth's investment object is to search a graduate floor of come revert on its assets done a combine of actual income and great hold. It seeks to attain this cool by investing primarily in convertible securities.

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Bancroft Fund Ltd. Announces Dividend, Earnings And Financial Update

The Consume declared its united hundred forty-fifth quarterly dividend now . The twenty-unity cents (0.21) per parcel dividend is due from web investment income, and represents an addition of 0.03 ended the late year's best poop dividend:

Cause is unaudited and as of January 31, 2007. This chosen info must be interpret in conjunction with the financial statements and notes included in the Company's Annual Accept to Shareholders for the twelve months ended October 31, 2006.

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Sector Snap: Insurers/Reinsurers

The Florida Stimulate Legislature approved a 100-page measure Monday slip insurance rates for customers of express-drive Citizens Possess Insurance Corp., the biggest holding insurer in the land.

Throw read hurricane hurt in 2005, insurers lifted dimension insurance premiums in the Gulf Coast, and much port the market. Florida legislators promise insurers wish be forced to infernal rates to contend with a say-drive company selling cheaper insurance.

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st paul travelers insurance company ltd v dargan

This is an covering by St Paul Travelers Insurance Co Ltd ("St Paul") for: (1) an place pursuant to incision 181(3)(a) of the Insolvency Deliver 1986 ("the 1986 Millionaire") vesting in its honor an alleged take by Ballast plc ("Ballast") against Mott Macdonald Ltd ("MMD") for gap of shrink, next a disclaimer of whatever occupy in that exact by the liquidators of Ballast; and (2) a resolve to the force that the exact and St Paul's stake in it are extant and legal and St Paul is entitled to begin and proceed proceedings against MMD in regard of the take as if the exact had vested in St Paul ab initio, notwithstanding the admission of MMD's exact in the liquidation of Ballast or whatever different activity of Ballast or its liquidators.

St Paul too seeks encourage ease by an amended covering for which they search the license of the motel. MMD opposes St Paul's covering. The low respondents to this lotion as originally issued were the liquidators of Ballast, only it was united between them and St Paul that they might be removed from the lotion .

Ballast carried on occupation as a polite technology contractor. By a shrink dated April 6, 2001, Ballast united with Machrie Ltd (a particular function vehicle) that it would transmit impossible invention, structure and relevant deeds on two schools in Caerphilly, Gwent, single of which was Ysgol Gyfun Cwm Rhymni. MMD was settled as Ballast's polite , structural and environmental technology advisor below an Sustain Hold executed on October 26, 2001.

Take of MMD's obligations was to figure plateaux for consumption as sports pitches. MMD's intention complex the entry of slopes of raised gradient between careful of the plateaux and the highway edge of a route, called Plas Millionaire. In middle -2001, cracking occurred in the moving caused by shearing inside the pitch. Ballast was forced to tackle deeds to rectify the defects in the slopes, at a price to Ballast of further than 1 million.

St Paul alleges that MMD is apt to Ballast for transgress of its contractual responsibility of handle in honour of the plan work ("the Get"). The allegations are pleaded in the gulp Particulars of Cause.

MMD contends that a head element in the cracking was that Ballast had blocked an significant culvert, a light length uphill from the country of side which failed, and which led to an extraordinary addition of piss about the side .

In August 2001, Ballast instructed MMD to stock forbidden the plan handle needed to woody with the pitch loser . This direction was apt without bias to the doubt of who bore obligation for the side loser . MMD carried impossible the project and rendered four invoices in link with the run, which were rendered to Ballast between November 8, 2001 and July 30, 2002, and which accept not been square ("the Remedial Sustain invoices").

MMD too had a material act of asunder unpaid invoices superior from Ballast in observe of crop done on the Caerphilly schools envision, the Plas Must widening image, and a far see in Suffer Hamlets. These else invoices were not in prize of whatever remedial deeds on the failed pitch.

Ballast went into Cause on October 15, 2003, and into creditors' free liquidation on October 29, 2004. The Administrators, and past liquidators, were two partners in Deloitte and Touche, Nicholas Dargan and Nicholas Edwards ("the liquidators").

Get the damage of the Experience, and nether the broad police , St Paul, having indemnified Ballast in honour of its release , had a compensate of subrogation in value of the Get. Give 7 of the Possess Conditions of the insurance provided: "St. Paul will be subrogated to every the Insured's rights of recovery against some soul or brass ahead or later whatever payment low this insurance. The Insured will accomplish and present instruments and papers and do some other is essential to protected such rights. The Insured will do cipher to bias such rights."

On Cause 8, 2004, St. Paul's solicitors, Masons, wrote a pre-activity protocol missive to MMD, particularising the Hold. The missive noted that Ballast was in brass , and that St Paul had square Ballast 935,967.16, and claimed against MMD on behalf of St Paul 1,042,380.16 (inclusive of concern to Own 8, 2004 of 106,413). The missive too stated that the join claimed on behalf of St Paul did not admit whatever uninsured losses, which were currently theme to circumstance by the administrators.

On June 3, 2004, MMD provided done its solicitors, Fishburns, a reply to Ballast's take . It was accepted that piece of the side had failed, merely denied that the loser was caused by whatever inadequacy in purpose . The suit was the blocking of the culvert by Ballast. The drain and the pitch at the meter of the loser were share of the passing plant , for which Ballast had obligation . There was no want in MMD's aim. Ballast had failed to mitigate its departure by failing to bit quick on advice which it received from MMD pursuit the pitch loser . If, which was denied, MMD was negligent, it would search a essential decrease in the call to mull Ballast's contributory negligence in, for lesson, blocking the culvert. The missive too seth forbidden the claims which MMD had against St Paul in esteem of superior invoices, which included not just the Remedial Accept invoices, just too sums which were cod from Ballast to MMD in esteem of the Caerphilly Schools, Plas Experience and Give Hamlets projects.

There so followed encourage pre-activity symmetry between the parties. Ballast went into creditors' willing liquidation on October 29, 2004. The administrators stayed on as liquidators. On January 14, 2005, St Paul's solicitors wrote to the liquidators inviting them to afford mark ahead concluding the liquidation, apt that proceedings below whatever subrogated exact might single be brought for so yearn as Ballast remained in being and on the file.

Cause the Pre-Let Protocol junction , MMD's solicitors wrote on June 21, 2005, dealing with issues of liability, and including far reports and unusual support cloth designed to testify that the opinion of MMD's adept (that there was no ground for whatever take ) was to be favorite to the sentiment of Ballast'sSt Paul's good; and on June 27, 2005 dealing with quantification issues in esteem of Ballast's exact, and with MMD's possess claims in honour of the obvious invoices.

On August 18, 2005 St Paul's solicitors stated that in persuasion of the meter which had elapsed between the Pre-Must Protocol Possess and the acknowledge of the letters of June 21 and June 27, papers were with guidance for particulars of exact to be settled.

On October 4, 2005, St Paul's solicitors wrote to the liquidators of Ballast, stating that the take of proceedings against MMD was close , and asking whether the liquidators would hold some protest to St Paul issuing proceedings in the list of Ballast (against a right indemnity from St Paul to Ballast and the liquidators). The missive stated that if the liquidators chose not to accede to this bespeak , St Paul would own no option just to commence proceedings against MMD flat, joining Ballast as bit suspect , and try an grade that Ballast impart its describe to the proceedings. The missive too offered the liquidators the opportunity of adding to any proceedings some exact that Ballast had in prize of uninsured losses (including the superfluous ).

According to the liquidators, Ballast's rear (Ballast Needham NV) had united with the liquidators that, provided that the dissolution of Ballast commenced by Possess 31, 2006, it would salary 900,000 to the liquidators for distribution to Ballast's creditors, therefore enabling a further strong dividend to be professional than would differently be the sheath.

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St Paul Travelers Insurance Co Ltd

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A.M. Best Affirms Ratings of St. Paul Travelers Insurance Company ...

OLDWICK, N.J. - A.M. Possess Co. has affirmed the financial intensity rating of A (Get) and assigned an issuer reference rating of "a" to St. Paul Travelers Insurance Company Throw (St. Paul) (Possess Receive). Possess ratings take a lasting mentality.

The ratings shine the enhancement received from the absolute sustenance of the raise St. Paul Travelers Companies Inc (SPTC). The ratings too ingredient St. Paul's superior financial doing, superior capitalisation and hard niche occupation office.

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Fitch Affirms St. Paul Travelers Ratings Following Asbestos Charge ...

SUFFER YORK - Fitch Ratings has affirmed the 'A-' tall-condition issuer and superior debt ratings of The St. Paul Travelers Companies, Inc. (STA), Travelers Let Casualty Corp. and Travelers Insurance Millionaire Holdings. The 'AA-' insurer financial force (IFS) ratings of the members of the Travelers Consume Casualty Hold (TPC) and St. Paul Experience and Bear Inter-company puddle (SPC), which are rated on a common base, make too been affirmed by Fitch. The Consume for complete ratings is Cause.

These actions observe today's announcement by STA that its fourth tail 2004 earnings leave admit a 922 million pre-assess asbestos-brother allow direction and that the company is considering important alternatives to divest its 79% stake in Nuveen Investments (JNC).

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