Insurance market Lloyd’s cuts European debt exposure

AFP
via TerraDaily
9/21/2011

The Lloyd’s of London insurance market said Wednesday that it has slashed its exposure to European government debt and pulled cash out of some of the region’s banks amid the deepening eurozone crisis.

“Given the uncertainty around the eurozone, it’s only natural that we would seek to reduce any potential downside risk,” Lloyd’s Finance Director Luke Savage told Dow Jones Newswires on Wednesday.

“As a result, we’re not holding government debt of any peripheral EU country and have sought to reduce our exposure to banks in these countries.”

The article continues at TerraDaily.

H/T The Astute Bloggers where there is more: “…21 other reasons you should be scared a global crash is coming… “

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