'Business as usual' at Probitas despite owner Istmo's liquidation

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Panama’s insurance regulator has ordered the liquidation of Istmo Re after taking control of the reinsurer in December. Probitas confirmed they are working with Lloyd’s, who has been kept informed of developments. Ash Bathia, Probitas CEO, said: “Istmo's participation in the syndicate's underwriting capital for the 2017 year of account is less than 2% and will be replaced as part of the normal mid-year process. “The management continues to have sole responsibility for the running of the syn