Lloyd's of London says that some of its investors' U.S. dollar-denominated profits for the 1994 year of account may not be released for up to 12 months because of solvency requirements in the United States. A member's funds will on ly be released from Lloyd's American Trust Funds when his or her solvency test this April shows a surplus for the 1994 account. . . .Dick Bar-field, who until recently was chief investment manager of Standard Life Assurance Co. of Edinburgh, Scotland, has been appointed a non-executive director of Equitas Holdings Ltd. as of April 1. Mr. Barfield will chair the reinsurance company's investment committee. . . .Guardian Royal Exchange P.L.C. reports it has (British pounds) 1 billion ($1.64 billion) available to spend on an acquisition. Possible targets, it said, include another U.K. multiline insurance company, a U.K. life and health insurance company, a North American specialty auto insurer or a North American property/casualty insurer. . . .Zurich Insurance Group is consolidating its investment management activities in Europe into one business unit under the umbrella of Zurich Investment Management (Europe) with about $30 bill ion of assets under management. It will be headed by Dominique P. Morax, previously responsible for asset management at the insurer's home office. . . .Sedgwick Group P.L.C. has named Ronald J. Kutella president of the retail prope rty/casualty operations of its primary U.S. operating company, Sedgwick Inc. Mr. Kutella, who was an executive vp, succeeds Donald K. Morford, who was named vice chairman of Sedgwick Inc. . . .Standard & Poor's Corp. has downgraded the claims-paying ability ratings for Assurances Generales de France IART and Assurances Generales de France Vie to AA-from AA. However, S&P affirmed the A-1 commercial paper rating for AGF Cash (SNC) guaranteed by AGF S.A. The do wngrades are based on S&P's expectations of a tougher operating environment in AGF's domestic French market affecting its ability to further improve its operating performance in both life and non-life businesses. . . .Employee bene fit consultant Sedgwick Nobel Lowndes Ltd. has named John Humphrey practice director, health care and risk management and a member of its board. Mr. Humphrey was previously managing director of Sedgwick Risk Consulting. . . .Bermuda catastrophe reinsurance company CAT Ltd. has set up a finite risk reinsurer and insurer, Enterprise Reinsurance Ltd., which will have $100 million in capital. Other investors in Enterprise Re are Employers Reinsurance Corp., Chu bb Corp. and Morgan Stanley Capital Partners.