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21 May 2012

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Bolt defends Lloyd’s over UK motor losses

1 November 2011

Lloyd's did its job adequately in assessing the plans of loss-making UK motor syndicates, according to director of performance management Tom Bolt.

Two Lloyd's specialist motor syndicates, KGM 260 and Equity 218, made horrendous losses after being hit by rising bodily injury claims and legal expense costs, putting a drag on an otherwise profitable period for the Lloyd's market (see table).

Click to enlarge Such was the rapid deterioration in performance at the syndicates that a protest group (218Equity.com) has...

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