Less Than Euphoric

Less Than Euphoric

Stung by heavy losses and highly critical of management, many of the Names (as investors are known) who make up the Lloyd's insurance market had long demanded the resignation of chairman David Coleridge, 60. Last week Coleridge stepped down and nominated as his successor David Rowland, 58, chief executive of the Sedgwick Group, an insurance firm. Since Rowland is considered a close associate of the former CEO, dissident Names are less than euphoric.

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