Credit Suisse First Boston (CSFB) has estimated that the cost to the UK insurance industry from asbestos-related claims will be £1.18bn.
This estimate, which is for the next 40 years, follows last month's Fairchild ruling which has opened insurers up to substantial potential claims.
CSFB noted that insurers believed to have large exposures to asbestos claims include Royal & SunAlliance, Zurich Financial and AXA. However, it also noted that UK insurers have "sufficient reserves" to deal with such claims.
