Highway completes exit from Lloyd’s
The Board of Highway Insurance Holdings (Highway) has obtained Court approval for the transfer of the business of Lloyd’s Syndicates 37 and 2037 to Highway Insurance Company, pursuant to Part VII of the Financial Services and Markets Act 2000 (the ‘Transfer’).
Syndicates 37 and 2037 are Lloyd’s syndicates that historically provided capital to the Highway motor insurance business. Syndicate 37 is supported by third party Lloyd’s Names and Syndicate 2037 by Highway.
The impact of the Transfer on the results of Highway for the year ended 31 December 2007 will not be material.
Andrew Gibson, group chief executive of Highway, said: “The Transfer satisfactorily completes Highway’s exit from Lloyd’s that began with the creation of Highway Insurance Company
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