Bermuda-based insurer Trenwick Group has finalised its letter of credit arrangements in respect of its Lloyd's business, the company announced on 24 December.

Trenwick said it had entered into defi ...

Bermuda-based insurer Trenwick Group has finalised its letter of credit arrangements in respect of its Lloyd's business, the company announced on 24 December.

Trenwick said it had entered into definitive final agreements with its Lloyd's letter of credit providers with respect to the renewal of $182m (£113m) of letters of credit supporting its Lloyd's underwriting operations.

Trenwick said that with additional capital provided by Trenwick and National Indemnity Company, its anticipated Lloyd's underwriting capacity for 2003 would rise to $500m (£311m).

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