Chatset more optimistic
Thursday 12 May 1994
It says the improvement is caused by syndicates that have written asbestos business reporting better than expected results. Charles Sturge, a Chatset analyst, said: 'We are poised to make a revaluation downwards.'
However, a Lloyd's spokesman said: 'Chatset's figures are still not in the right ball park.'
The spokesman also said Lloyd's would publish two figures next week. One will be calculated using Lloyd's traditional method, while the second figure will disaggregate the double counting of some of Lloyd's losses.
Double counting results from members reinsuring their personal liability for losses.
Separately, Christopher Hitchings, a UBS analyst, warned Lloyd's could expect its underwriting capacity to shrink next year.
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