Threat to Equitas

A significant and unexpected rise in asbestos claims could – if current trends continued – ‘exhaust Equitas’s reserves… logically Equitas would go under.’ So said chief executive of Equitas Michael Crall, speaking at the annual meeting of reinsured names. While details of the extent of exposure were not disclosed, asbestos, pollution and health liability account for 65% of the claims outstanding at 31 March 2000, a 55% increase on the previous year.