Lloyd's secures $909 million cover for backup central fund
06/17/2021 | 05:00am EDT
(Reuters) - Insurance market Lloyd's of London has obtained a 650-million pound ($909 million) cover to protect its backup central fund against possible high-risk events that could cause losses, it said on Thursday.
The five-year cover is financed by J.P. Morgan as well as other reinsurers including Berkshire Hathaway and Swiss Re.
($1 = 0.7152 pounds)
(Reporting by Yadarisa Shabong in Bengaluru; Editing by Shailesh Kuber)