Equitas, the unlisted reinsurance vehicle linked with Lloyd?s of London, has reached another settlement of asbestos claims, agreeing to pay $97m to Hercules, a US speciality chemicals company.
The payment by Equitas, which was created to assume the pre-1993 non-life liabilities that once threatened to overwhelm the Lloyd?s insurance market, comprises $30m to Hercules and the remainder to an asbestos trust established to resolve claims against the company.
