Insurance firm Lancashire Holdings has rolled over a credit facility with its bankers for another five years.
The speciality insurance product provider entered into a new $350m five year letter of credit and revolving facility with Lloyds TSB Bank as administrative agent and issuing bank and Barclays Bank as syndication agent.
The letters of credit will be used to support obligations under reinsurance liabilities of Lancashire Insurance Company Limited, a wholly owned subsidiary of Lancashire Holdings.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
JH
-
Water companies blocked from using customer money to pay “undeserved” bonusesThe regulator has blocked three water companies from using billpayer money to pay £1.5 million in exec bonuses
-
Will the Bitcoin price hit $100,000?With Bitcoin prices trading just below $100,000, we explore whether the cryptocurrency can hit the milestone.
