Equitas, which reinsures and is running off liabilities of Lloyd's syndicates prior to 1993, said it has paid out $220m in asbestos settlements.

The settement, which happened in the last weeks in December, is four four claims from major policyholders, the company said in a release.

Simon Wright, Equitas' head of Asbestos Pollution andHealth Hazard Claims, said: “With these four additional deals, there can be no doubt about our readiness to reach reasonable settlements with our policyholders.

"Currently, we are engaged in negotiations with other major policyholders and are confident that they willalso result in settlements. We have an excellent record of concluding such settlements when policyholders are, like us, committed to reasonable and commercial assessment oftheir claims."

The company said in a release that these agreementssettle all claims against certain underwriters at Lloyd's of London, reinsured by Equitas,under policies of insurance providing coverage for asbestos and otherliabilities.

The company said that these settlements total over $200 million and one is with policyholder DanaCorporation.

That settlement resolves one of the three largest remainingdirect liabilities facing Equitas.

These settlements cap a year of successful settlement activity for Equitas, the company said. Earlier in 2004,Equitas concluded settlements with other major policyholders including Halliburton, Hercules and Enpro.

For the six-month period ended Sept. 30, Equitas reported paid claims amounted to £353m ($684m at exchange rates at the time), compared with £357m ($692m) in the first half of last year.