Insight and Intelligence on the London & International Insurance Markets

9 February 2012

Open years set to be slashed again as RITC deals mount

10 March 2009

Lloyd's will unveil another sharp fall in the number of run-off years of account with its annual results next month, The Insurance Insider can reveal.

In 2007, the Society shrank its open years from 90 to 54 and the percentage reduction could be similar as a host of 2008 year-end deals are struck to transfer some of the market's post-Equitas legacy liabilities.

According to data from members' agent Argenta, 17 of the remaining 36 run-off years where third party capital...

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