India, Oct. 27 -- The UK government's £1.5-billion loan guarantee to help Jaguar Land Rover after a major cyberattack falls outside the "normal underwriting criteria", the Financial Times reported on Monday.

In a 25 September letter seen by FT, UK Export Finance Chief Executive Tim Reid told Business Secretary Peter Kyle that the overall risk in relation to the carmaker after the August cyberattack was "acceptable", with "adequate premium" as financial compensation. But "the quantum of exposure that UKEF could be required to take on a single entity relative to the overall size of its portfolio is high and occurs at a time of great uncertainty for the firm".

"This would therefore fall outside UKEF's normal underwriting criteris agre...