Equitas, the Lloyd's of London syndicates' runoff vehicle for non-life liabilities, primarily asbestos risks, reported that its year-end financial results show it is in a stronger financial position than last year.
Equitas reported an accumulated surplus of ?16 million ($29 million U.S.) for 2005, going from ?460 million ($842 million) to ?476 million ($871 million).
In his commentary on the fiscal year-end results ending March 31, Scott Moser, Equitas chief executive officer, said the increase is "not very significant in the context of our balance sheet and should be considered as neutral."
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