Bankside Syndicates Ltd

Current Syndicates -
Other Syndicates of Interest

01 November 1999After 1st November, 1999 - please see Limit Underwriting Ltd.
20 October 1999Elvin Patrick and Brian FitzGerald to resign from Limit Board
The Boards of Bankside Syndicates Ltd and Janson Green Ltd have announced that Elvin Patrick and Brian FitzGerald, current chairmen of Bankside and Janson Green respectively, will be resigning from all Limit Group Boards at the end of October, when the two agencies merge.

Steven Burns will be Managing Director of the merged agency and Peter Grove will be Underwriting Director. Laurence Holder, currently Managing Director of Bankside, will become Deputy Managing Director and Jonathan Agnew will chair the agency Board.
01 October 1999Janson Green Ltd. and managed Syndicates 79 and 386
LIMIT Plc. has announced its intention to merge the business of the Bankside Managing Agency with the business of Janson Green Ltd. as at 25th October, 1999.

Subject to Lloyd's approval, the management of all Bankside Syndicates will be transferred to Janson Green which, in turn, will change its name to Limit Underwriting Ltd.
10 September 1999Merger of Syndicates 45 and 1156 into Syndicate 386 for 2000 Year of Account
Lloyd's has now granted consent to merge Syndicates 45 and 1156 into 386 for the 2000 year of account,

Accordingly, as detailed in their merger proposal document dated 23rd July 1999, Syndicates 45 and 1156 will cease trading as at 31st December 1999. Existing Names will be entitled to participate on in the 2000 year of account of Syndicate 386 on the following basis:

Syndicate 45 £1 of capacity for every £1 of existing capacity
Syndicate 386 £1.025 of capacity for every £1 of existing capacity
Syndicate 1156 £0.85 of capacity for every £1 of existing capacity

A business forecast will be submitted to Lloyd's, which should enable the Risk Assessment Capital Requirement for the merged Syndicate 386 to be calculated.
23 July 1999Revised merger proposals of Syndicates 45 and 1156 into 386 for year 2000
A new proposal for the merger of Syndicates 45 and 1156 into Syndicate 386 for the 2000 Account has been published following consultation with capital providers and the departure of John Murphy, the Underwriter of Syndicate 1156, from the LIMIT Group. Names now have until the 25th August, 1999 to cast their vote.
23 June 1999Merger of Syndicates 45, 386 and 1156 back on?
John Murphy will cease to be Active Underwriter of Syndicate 1156 and will leave the LIMIT Group.

LIMIT will now be discussing with capital providers and their Agents a view to putting forward revised proposals to merge for the 2000 Account Syndicates 45 and 1156 into 386, with Bob Wallace as Active Underwriter. LIMIT had withdrawn its earlier proposals before they were put to the vote.
30 April 1999Limit announces proposed merger of Bankside and Janson Green Syndicates
Limit Plc have applied to Lloyd's to merge the businesses of Bankside non US liability Syndicates 45 and 1156 into Jason Green non US liability Syndicate 386 for the 2000 year of account. This merger will be subject to approval from Capital Providers.

Bob Wallace, currently active underwriter of Syndicate 386, will become the active underwriter of the new Syndicate. It is then intended that John Murphy, currently underwriter of Syndicate 1156, will succeed as active underwriter for the 2002 year of account, following Bob Wallace's retirement.

It is proposed that the combined Syndicates will have a total capacity of some £220m for the 2000 year of account.

Capacity allocation will be on a straight £1 for £1 basis.
17 March 1999LIMIT obtain consent for acquisition
Lloyd's has now given consent to the acquisition of a minority shareholding by LIMIT Plc in Satec srl.
29 January 1999LIMIT To Acquire Shareholding in SATEC
LIMIT, Bankside's parent company, plan to acquire a minority shareholding in one of syndicate 566's Italian coverholders, SATEC srl. SATEC is an underwriting agency specialising in space related risks on behalf of a consortium of insurers.

 
 

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