Greenwich Group - Syndicate News

Crowe Syndicate Management Ltd

	14 July 1999	Crowe Loading Lloyd's have advised Crowe Syndicate Management Ltd. that a loading of 10% has been included in the risk assessment computation used to calculate the minimum capital requirement of those members for whom the Agency will act in respect of the 2000 year of account. Crowe are working with Lloyd's Regulatory Division with the objective to eliminating the need for this loading prior to the coming-into-line requirements for 2000.
	21 December 1998	Syndicate 1121 Overwrites Syndicate 1121 - Crowe Syndicate Management Ltd. - The managers have advised that the 1996 and 1997 years of account will both overwrite their Stamps due to the receipt of reinstatement premiums. The amounts will be approximately 1% and 5% respectively.
	21 December 1998	Syndicate 1121's 1997 Account Declines The Syndicate's revised profit forecast on the 1997 year of account has been reduced from a profit of 5% to 10% (June figures) to a profit of 1% to 6% (September figures). The reason for this deterioration is a general increase in the level of attritional claims particularly in the cargo and specie accounts. The 1998 Account is also experiencing a similar level of losses but it is too early for the managers to comment at this stage.