Claims paid at Equitas - the company set up to reinsurer and run off Lloyd's pre 1993 liabilities - amounted to £357m in the six months ended 30 September 2003.
In the same period, reinsurers' share of claims paid amounted to £112m compared with £133m in the first half of the year. Equitas said the decrease reflects, in part, the prior realisation of the reinsurance asset through commutations of outward reinsurance contracts.
Investment return in the period was £184m compared with £556m in 2002, however.
Equitas also commented on asbestos reform legislation in the US, saying it was disappointed, though not surprised, that progress has been slow and that prospects for enactment of such legislation "remain uncertain".
