British insurer Amlin Plc announced that regulatory underwriting capacity at its Lloyd’s Syndicate 2001 next year would remain the same as this year at £1billion ($1.75 billion).
The insurer indicated the capacity was supported from its own resources, as well as letters of credit totaling £130 million ($227.5 million) from a syndicate of banks led by Lloyds TSB, and by letters of credit totaling $90 million provided through State Farm Mutual Automobile Insurance Company, which holds a 12.7 percent stake in Amlin.
Topics Excess Surplus Lloyd's
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