Equitas Boosts AsbestosReserves By 27 Percent

London Editor

During the past year, Equitas strengthened undiscounted asbestos reserves, gross of reinsurance, by 1.7 billion ($2.4 billion), a 27 percent boost to 8 billion ($11.4 billion), according to the groups financial results for the year ended March 31, 2001.

Before releasing its results last week, including the reserve growth, Equitas along with other London insurers in May announced tightened documentation requirements for asbestos-related claims that took effect June 1 (see NU, May 14, page 1).

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