Financial Services Industry
Industry: Email Alert RSS FeedLloyd's of London.
Financial News, October, 2001
The Observer
Lloyd's of London, the insurance market, has bolstered its finances for the second time since September 11 to meet soaring claims following the US terrorist attacks.
The firm has rushed through emergency measures allowing individual names (investors who put up their own personal wealth) to offer twice as much security from resources other than cash amid concerns in the US that Lloyd's cannot meet its claims.
Lloyd's is also allowing managing agents, who are backed by syndicates made up of individual names and corporate investors, to take more premium income as a proportion of their assets.
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