Ascot becomes first Lloyd’s insurer to increase capacity after cats
AIG subsidiary Ascot increased its 2011 Lloyd's stamp capacity by £50mn to £650mn, becoming the first Lloyd's insurer to publicly increase its business appetite following signs of market hardening in the property cat and energy markets.
The move by the firm follows a number of capital raising initiatives by rival Bermudian firms in the wake of the $100bn+ of losses that has hit the industry since the Chile earthquake in February 2010.
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"Market conditions are changing, providing...
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