Greenwich Group - Managing Agents

Current Syndicates -
Other Syndicates of Interest

	13 July 1999	Turret seek to close 1993 Account of Syndicate 950 The Board of Turret Run-off has written to members of the 1993 Account of Syndicate 950, recommending that they accept the lowest of three quotes, offered by Gammell Kershaw & Co. Ltd., to reinsure to close the 1993 Account of 950. As the managing agent's of the Syndicate, Turret are empowered to accept the quote on behalf of Names, however, they have written to supporting members of the Syndicate to obtain any views before accepting the quote. Unless there is a material negative response, the reinsurance to close will be completed for the Syndicate with effect from 1st January 1999. Closure of the Syndicate by RITC would be at an additional cost of 1.58% of stamp capacity when compared to the result as at 31st December 1998. However, as the final result upon closure would be less than the amount already called, there would be a distribution to Names of approximately 4.69% per Ł20,000 share, which would be made in May 2000.
	17 March 1999	Turrett profit commission dispute rumbles on Strenuous efforts have been made to resolve the problems arising from the disputed methods by which profit commissions have been calculated regarding the above, including application to Lloyd's Council for a Direction under Clause 21 of the PTF. Regrettably, it will not be possible to obtain a Direction in time to coincide with the 1996 year of account distribution. Amounts continue to be held for the benefit of the Names or the original Managing Agent until the position is resolved.

Current Syndicates - Other Syndicates of Interest

Current Syndicates -
Other Syndicates of Interest