Boliden: Confirmation of insurance claim for Rönnskär

Source: www.gulfoilandgas.com 5/3/2024, Location: Europe

After the fire that destroyed Rönnskär's tank house in June 2023, Boliden has now received confirmation that the primary insurance company fully assumes its part of the insurance claim. Boliden will therefore report an income of SEK 2.4 billion affecting the result for the second quarter of 2024. Thereafter, the insurance proceeds are expected to be paid out over time. However, the payment plan has not yet been determined.

At the time of the fire, Rönnskär's total insurance coverage amounted to SEK 3.4 billion, split between a primary insurance with a limit of SEK 2.4 billion, and an excess insurance applicable on top of the primary insurance, with an additional coverage of SEK 1 billion.

After this confirmation, the excess insurance claim process, as well as discussions with the primary insurance company around the payment plan, will continue.


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