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21 May 2012

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Equity receives Lloyd’s motor wrist slap

11 January 2012

IAG-owned Lloyd's motor insurer Equity Syndicate Management Ltd was censured by Lloyd's and ordered to pay costs of £95,000 over two charges of detrimental conduct, but avoided a hefty fine.

The move appears to vindicate the current management's strategy in turning around the heavily loss-making insurer, and means attention could now focus on the former executives heading the motor syndicate at the time relating to the censure.

The first charge concerned issues around Equity's oversight and documentation in respect of...

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