These funds, known as the Lloyd's American Trust Funds, are held for individual Lloyd's Names
and are in realizable liquid assets, not in the junk bonds or real estate holdings that have crippled some insurers.
It does not contain personal or financial details on Lloyd's names
So I was delighted to learn that the number of Lloyd's names
has fallen by more than 90 per cent in recent years (there are now fewer than 2,500) - and good riddance to them.
At present, capacity for Syndicates 183, 227, 340, 582 and 779 is provided by a mixture of corporate capital and traditional Lloyd's Names
Recently, for example, the Los Angeles Times broke the news that the staff of former California insurance commissioner Chuck Quackenbush concealed money received from Lloyd's to defend the insurance and reinsurance market from lawsuits waged by various Lloyd's Names
About 2,700 of the 34,000 Lloyd's names
are from the U.
This is a matter about which Lloyd's names
are very sensitive nowadays.
When the Lloyd's Names
took a big hit a few years back they asked for public sympathy.
Capacity for the syndicate's 2009 year of account is provided by Ariel's corporate Lloyd's member, Atrium 5 Limited (26%) and third party capital providers, largely traditional Lloyd's Names
One of the biggest cash calls for Lloyd's Names
came after a series of natural and man-made disasters, including Hurricane Andrew, Piper Alpha and liabilities from US asbestos and pollution claims.
The venture is backed by a mix of private investors, including traditional Lloyd's Names
and management, and U.
The Graces were among 248 Lloyd's Names
in the US who rejected the settlement but were later judged to owe Lloyd's money by the UK courts.
Capacity for the syndicate's 2010 year of account is provided by Ariel's corporate Lloyd's member, Atrium 5 Limited (25%), and third party capital providers, largely traditional Lloyd's Names