Undermining the foundations

Article Abstract:

Lloyd's is struggling to smooth strained relations between its management and the names who provide the firm with capital. The names are being forced to absorb losses of nearly $1 million for 1989, due largely to the LMX spiral. The names expect to win a negligence case against Lloyd's underwriters.

Insurance industry

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Burnt-out cases: Lloyd's of London

Article Abstract:

Lloyd's of London lost $5.2 billion in the insurance market in 1990, but most investors are staying with the firm because the insurance market is expected to improve and Lloyd's is promising reforms. Chmn David Rowland's address at the general meeting is discussed.

United Kingdom, Banking industry

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Time to sue: Lloyd's of London

Article Abstract:

Investors who lost money by providing Lloyd's of London with capital for insurance markets may base neglect suits on two new reports which say agents were incompetent. However, the agents carry little insurance and investors would net little money with lawsuits.

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