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Lloyd’s secures $909 million cover for backup central fund

Lloyd's secures $909 million cover for backup central fund 1

(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)

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