QBE boss O'Halloran hits out at 'archaic' Lloyd's
QBE confirmed today that it had withdrawn a proposed offer to buyout the remaining Names that participate on its specialist liability Syndicate 386, managed at Lloyd's under the Limit brand within QBE European Operations. It follows a rejection by the members agents representing the Names.
The external minority comprises 30.4% of 386, equating to £103.4 million of capacity for the 2007 year. The initial proposal comprised two alternatives; an immediate cash payment of £1.10 per £ of
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