Lloyd’s Central fund reinsurance triggered

Lloyd’s is pressing reinsurers for speedy reimbursement following Central Fund payments of £100mn, mainly in respect of 11 September claims. The Central Fund, reinsured by Swiss Re, Chubb Corp, St Paul, XL Re, Employers Re and Hannover Re, meets liabilities of syndicates unable to do so. Reinsurance under a five year policy running from 1999 to 2003 is triggered by Central Fund payment of £100mn or more in a single year.