Lloyd’s reaches conclusion with brokers in New Central Fund insurance policy dispute

Lloyd’s advised that it had reached a settlement with the two brokers involved in the placement of the New Central Fund insurance policy.

The net liability disclosed by Benfield represents part of a wider overall settlement reached with Benfield and with Aon.

The terms of the settlement agreement will remain confidential.

Commenting on the settlement Sean McGovern, Director and General Counsel at Lloyd’s, said:

“The settlement we have reached with Aon and Benfield enables us to lay this matter to rest and continue our excellent relationships with both organisations.”