Equitas has reported an increase in the number of asbestos claims filings in the US, and the amounts being paid out.
The Lloyd's run-off vehicle, which was set up to reinsure pre-1992 liabilities, ...
Equitas has reported an increase in the number of asbestos claims filings in the US, and the amounts being paid out.
The Lloyd's run-off vehicle, which was set up to reinsure pre-1992 liabilities, released summary financial information for the six months ended 30 September 2002.
The group declared that, due to the asbestos claims, it may have to increase reserves at the end of the financial year.
Equitas chairman Hugh Stevenson said: "A large number of the new asbestos claims have been filed by people who have not been impaired by exposure to asbestos.
"We remain firmly committed to ensuring that, except in special circumstances, Equitas reimburses only valid claims in which asbestos related injuries can be documented."
The group also said its investment performance had been hit by declining equity values.