Equitas, the reinsurance company created to save the Lloyd's insurance market from collapsing under the weight of asbestos-related claims, yesterday appeared to have won a significant concession from senior US lawmakers about its treatment in a bill to set up an asbestos compensation fund.

The Senate judiciary committee yesterday passed an amendment to the bill that would ensure Equitas is treated in the same way as other insurance companies. The fate of the bill as a whole was not clear, however, because the committee postponed a final vote on it for at least a fortnight.