Bridgewell Securities has found that a group of Lloyd’s of London insurers are buying out traditional Names on the cheap.
The insurance analyst showed that companies including Hiscox, Atrium, Wellington, Beazlely, Chaucer and Cox, had been able to significantly increase the ownership of insurance capacity in syndicates they ran at relatively low prices.
The Association of Lloyd’s Members said many Names were lowering their exposure to the market as premium rates started to decline.
References: The Daily Telegraph 21/09/04 page 29
