April 2002/1

St Paul, one of the giant corporate capital providers to Lloyd's thought to be cooling about its involvement in the market, will not renew its reinsurance of the Central Fund when the policy expires next year.

The cost of buying Errors and Omissions coverage for insurance brokers has spiralled in recent months, due to significant exposures and claims arising in particular from the larger broking houses.

Wellington are planning a 50 percent increase in capacity after agreeing terms for quota share reinsurance and a new parallel syndicate.

One of the few remaining independent Lloyd’s insurers plans to raise private equity capital in expansion drive The largest independent Lloyd’s agency Beazley is planning to raise capital from a consortium of private equity firms as part of a fund raisi