29th Mar 2016 06:30
LONDON (Alliance News) - Non-life insurer Lancashire Holdings Ltd on Tuesday said its Lancashire Insurance Co Ltd subsidiary has secured a new USD300.0 million, five-year credit and revolving credit facility.
The funding has been provided through Lloyds Bank PLC and Barclays PLC, it said. The money will be used to support obligations under reinsurance liabilities held by the subsidiary, Lancashire said.
"The Lancashire group is very pleased to have the continued support of this strong syndicate of lenders, all of whom represent core relationship banks to Lancashire. This renewal allows Lancashire to maintain financial flexibility and strength for our clients," said Denise O'Donoghue, head of investments and treasury at Lancashire.
By Sam Unsted; [email protected]; @SamUAtAlliance
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