Equitas faces increased claims

The 6-months to 30 September results for run-off vehicle, Equitas, show a continued increase in asbestos-related claims from the US. Average payouts also rose although the total paid out was £451mn, less than the £798mn of the same period in 2001. This was attributed to two large commutation deals struck early in 2001. The development of tighter documentation requirements was also encouraging.