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Lloyd's open years shrink again
24 March 2009
Lloyd's has posted a sharp fall in the number of run-off or 'open years' of account in 2008, continuing the trend started in 2007.
The number of years of account fell from 54 at the end of 2007 to 37 at the end of 2008 - a decline of 32 percent.
Total Lloyd's open year gross liabilities were cut from £2.7bn to £2.5bn year-to-year - the fall of 7 percent suggesting that some of the larger open year exposures are...
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