Greenwich Group - Syndicate News

Sterling Underwriting Agencies Ltd

	03 August 2000	De-Registration of Sterling Underwriting Agents Ltd On 26th July 2000, the Authorisation Committee of the Lloyd's Regulatory Board decided to revoke the licence of Sterling Underwriting Agencies Limited to underwrite new or renewal business at Lloyd's. Sterling has suspended underwriting while they await Lloyd's written reasons and consider whether to appeal.
	07 January 2000	Ethridge dismissed Sterling Underwriting Agencies Ltd have updated capital providers concerning these two Syndicates. Syndicate 1093 ceased trading with effect from 31.12.99 and Syndicate 529 will continue underwriting marine and non-marine business. Syndicate 529's capacity will remain the same for 2000 (Ł31m) which will be provided solely by Riverside Corporate Underwriters Ltd. Martin Ethridge was dismissed as active Underwriter by the Board of Sterling on 10th December and it is proposed, subject to the usual consents, that Maurice Howell will be appointed active Underwriter of the Syndicate. On 10th December, T.G. Brown resigned as a Director of the company and W.A. Barnett was appointed. The agency will be writing to capital providers again to update regarding control of the Agency.
	11 October 1999	Riverside acquire majority share in Sterling Sterling Underwriting Agencies Ltd. have announced that subject to contract, Riverside Underwriters Plc. have agreed to acquire a majority shareholding in Sterling, including all shares held by Margent (U.K.) Ltd. Riverside intends to provide capacity support to Sterling for year 2000.