Lancashire rolls over credit facility for another five years

10th Apr 2012 07:42

Insurance firm Lancashire Holdings has rolled over a credit facility with its bankers for another five years.The speciality insurance product provider entered into a new $350m five year letter of credit and revolving facility with Lloyds TSB Bank as administrative agent and issuing bank and Barclays Bank as syndication agent. The letters of credit will be used to support obligations under reinsurance liabilities of Lancashire Insurance Company Limited, a wholly owned subsidiary of Lancashire Holdings.JH