Equity dodges £1m fine as it receives censure from Lloyd's

The interior of the Lloyd's building in London

Martin Friel
03 Jan 2012

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In addition, the company was censured with regards to the provision of management information and data by Equity to its Board regarding the adverse development of claims payments.

On 7 May 2010, as a result of its concerns as to the reliability of the Syndicate’s reserving position, Equity instructed an independent actuarial review of its reserving.

Following that review, which was finalised on 2 June 2010, Equity reported a deterioration of £311m (central estimate) in respect of net ultimate

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