Lloyd’s motor pain continues as Canopius predicts 2011 and 2012 losses
Despite UK motor rates climbing by 20-30 percent in the past year the recent Lloyd's motor pain is set to continue, with Canopius predicting further losses both this year and next on its specialist motor Syndicate 260.
The private equity-backed Lloyd's insurer took over the management of Syndicate 260 last year from KGM and, working with Lloyd's, has overhauled its management and underwriting controls following brutal losses on the 2008-10 years of account.
In a 16 August circular to Lloyd&#...
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