Lloyd's run-off vehicle Equitas will increase its asbestos reserves by £167m, it said as it announced its year end results.
“Asbestos remains the greatest single threat to Equitas,” said company chairman Hugh Stevenson. “We have strengthened our asbestos reserves on a gross discounted basis.”
It said its accumulated surplus has increased by £16m to £476m.
Its solvency margin, explained as accumulated surplus stated as a percentage of net claims outstanding, rose from 9.8% to 12.2%. When Equitas began operations in 1996, its solvency margin was 5.6%.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
