Trenwick has revealed it has reached a forbearance agreement with its creditors on its bank credit facility.

Trenwick told Reuters that it is discussing the renewal for an additional year of its $226m (£142m) letter of credit facility which supports its Lloyd's operations.

Under the forbearance deal the letter of credit providers agree to refrain from enforcing their rights.

Trenwick said it agreed to refrain from making certain payments or distributions.

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