Insight and Intelligence on the London & International Insurance Markets

9 February 2012

Equitas begins LMX collections after landmark UK verdict

4 August 2010

Berkshire Hathaway-owned Lloyd's run-off vehicle Equitas has begun striking deals with relevant reinsurers to collect outstanding LMX exposures, The Insurance Insider can reveal.

Armed with its UK court-approved actuarial model, which made headlines after a landmark legal victory in December 2009, Equitas has approached a series of firms over many millions of dollars of legacy claims.

Unresolved LMX claims from the 1989 Exxon Valdez loss and the 1990 Kuwait Airlines/BA incident had stalled for over a decade, amid uncertainty on...

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