Fairfax Financial

The ratings firm said the survival ratio last year improved slightly to 7.8x.

Advent has made an underwriting loss each year in the past three years, and received the Lloyd’s remediation letter.

For some time, there has been a need for capacity to come out of the Lloyd’s market and it seems like that is starting to happen.

More than 100 Advent staff are thought to be having their roles placed under consultation.

Cyber criminals siphoned off $10mn from Banco de Chile in May.

But the Toronto-based conglomerate said its overall combined ratio eroded to 96 percent.

Changes in the way that Thomas Cook India has accounted for its interest in Quess Corp has resulted in a one-off $600mn gain for Fairfax Financial, the firm announced yesterday.