Liberty Mutual has $481mn of surety bond exposure to Katerra bankruptcy
  • X
  • LinkedIn
  • Show more sharing options
  • Print
  • X
  • LinkedIn

© 2024 Insider International Limited, company number 15236286, 4 Bouverie Street, London, EC4Y 8AX. Part of the Delinian Group. All rights reserved.


Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

Cookies Settings

Liberty Mutual has $481mn of surety bond exposure to Katerra bankruptcy

Bernard Goyder
July 09, 2021
  • X
  • LinkedIn
  • Show more sharing options
  • Print
  • X
  • LinkedIn
Liberty Kattera.jpg

The quiet world of surety has been shaken in recent weeks by the bankruptcy of Katerra, a construction business that burnt through $2bn of investor cash, leaving projects uncompleted across the US.

The ultimate size of the loss could take years to emerge with surety bonds and could fall well short of the exposure numbers, as the insurers are able to subrogate to recover some of their losses.

An

Request a free trial:

Fuel a smarter strategy with our actionable market intelligence

    • Gain a competitive edge and accelerate decision-making
    • Be empowered by insights that transform confusion to clarity
    • Uncover growth opportunities and prepare for potential threats
Request a free trial Already a subscriber? Login now

Topics

Pol risk, credit & suretyLiberty MutualIntact FinancialCommercial linesNewsClaims and losses
BG
Bernard Goyder
Gift this article