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Lloyd's investigates Wellington deal

Sarah Veysey

December 04, 2006 Reprints

Lloyd's of London More + Less -

LONDONLloyd's of London is investigating allegations that there were breaches of its capacity auction rules before the announcement that Catlin Group Ltd. had made an offer to buy Wellington Underwriting P.L.C.

"We are aware of the issue and have internal processes that are looking into this," a spokeswoman for Lloyd's said.

The spokeswoman said that she could give no further details.

Catlin, which is Bermuda-based and has a large operation at Lloyd's, announced in October it was set to buy Wellington.

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Lloyd's investigates Wellington deal

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