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Lloyd’s strength fuels capital raising and M&A
18 June 2009
Lloyd’s competitive strength during the financial crisis has led to capital raising and consolidation within the Lloyd’s market, a new report by Aon Benfield has revealed.
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Lloyd’s competitive strength during the financial crisis has led to capital raising and consolidation within the Lloyd’s market, a new report by Aon Benfield has revealed.
The report Lloyd’s Update: Capital Additions June 2009 states that pro forma capital of Lloyd’s increased by 5% to £14.2bn in 2008, while January 1 2009 stamp capacity increased by 3% to £16.6bn.
Since December 2008, Lloyd’s managing agents have raised a total of £663m in new equity capital. The latest capital addition was Amlin’s equity placing on June 3, which raised £76m.
Beazley and Catlin...
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