Sugar and building products company CSR is predicting steady future profits, and with trials against some 60 Australian, US and European insurers pending, industry spectators say it’s not surprising.

While the company recently announced a $287 million profit – up 80% on the year before – it faces a cooling housing market, instability in the sugar market and aluminium forecasts that aren’t too optimistic.

Yet windfall settlements from actions against a group of insurers – including Australia’s QBE, Vero and Zurich – that failed to indemnify the company in US asbestos litigation as far back as 1995, may be the company’s saving grace.

CSR MD Alec Brennan told ABC’s Inside Business program that insurers should be honouring their contracts with the company and he believes CSR has a “very strong case”.

CSR has already settled for $41 million with Lloyd’s over similar policies issued between 1978 and 1989.