COMPANIES Equitas, the unlisted reinsurance vehicle linked with Lloyd's of London, has continued its drive to settle asbestos liabilities with a $118m (£63m) deal to buy out the claims of EnPro, a US engineering company.
The vehicle, which was created to assume the pre-1993 non-life liabilities that once threatened to overwhelm the Lloyd's insurance market, will pay $30m to EnPro and the remainder to an asbestos trust that resolves claims against EnPro subsidiaries.
