Greenwich Group - Syndicate News

GoshawK Syndicate Management Ltd

	14 September 1999	Consent granted for Syndicate 102 Lloyd's has granted consent to permit Gammell Kershaw & Co. Ltd. (GK) to give to those members of Syndicate 102, who have not accepted the formal capacity offer, notice of termination of the Standard Managing Agents Agreement on Syndicate 102. In addition, the consent previously granted to GK by the Business Conduct Committee has been declared unconditional for Syndicate 102.
	30 June 1999	Goshawk Insurance Holdings Plc. - capacity offer On the 28th June, GoshawK Insurance Holdings Plc. announced that it had made an offer on behalf of GoshawK Dedicated Ltd. to all of the non-GoshawK Group members of Syndicate 102 to acquire their rights to participate on the Syndicate for 2000 and subsequent years of account save for those members resident in Singapore. By making this further offer, the GoshawK Group hopes to acquire all of the capacity on the Syndicate that Goshawk Dedicated does not already own and at the same time continue to reduce, in an orderly manner, its participations on Syndicates which it does not manage. On the 29th April, GoshawK Group submitted applications to Lloyd's for a minority buy-out in respect of the Syndicate. On the same date, they submitted an application to effect a merger of Syndicate 102 with Syndicate 2021. Andrew Gammell intends to step down as the Active Underwriter of Syndicate 102 prior to the commencement of the 2000 year of account, provided that a suitable replacement can be found but will remain as Chief Executive of GoshawK.