Lloyd's insurer SVB Holdings is rumoured to be planning to sell shares later this year in a bid to reduce debts.

The sale of shares would boost the capital it needs in order to take on new business.

The Lloyd's insurer, which has been hit hard by US-led liability claims, is believed to plan to underwrite £406m new business this year, up 9% from 2002.

SVB is likely to seek £50m in new capital from any action.

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