ZURICH (Dow Jones) – Switzerland-based insurer Zurich Financial Services AG (ZURN.VX) said Tuesday that it has reached a settlement regarding the bankruptcy of a U.S. nursing home chain Senior Living Properties.
Under the agreement, Zurich will pay $47.5 million. The company said its reserves will fully cover the payment.
The settlement puts an end to a lawsuit filed by Senior Living Properties which sought damages of around $528 million from Zurich company units.
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