Reinsurer agrees £107m asbestos payouts

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Equitas, the reinsurer set up to deal with Lloyd's of London's multibillion-pound asbestos liabilities, has settled more than £107m of claims with four policyholders. One of the settlements is with Dana Corp, a US auto parts supplier that was one of Equitas's three biggest direct liabilities. Further settlements should follow, the reinsurer said in a statement.

The deals settle all claims against underwriters at Lloyd's of London under policies taken out by Dana and the other claimants to c... (271 more words)

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