Greenwich Group - Syndicate News

Greenwich Managing Agency Ltd

	02 January 2002	Syndicate 1222 under new management for 2002 On 31st December 2001, Greenwich Managing Agency Ltd (GMA) announced the sale of the business of Motor Syndicate 1222 to a new company, Service Underwriting Management Ltd owned by the senior management of the Syndicate and a Non-Lloyd's Insurance Group, Markerstudy Insurance Company Ltd. Syndicate 1222 has been put into run-off and the management of the run-off has been sub-contracted to SUM for a fixed fee. Greenwich retains no liabilities in respect of the business, other than the pure underwriting exposure of Syndicate 1222 for its open years of account, being 1999, 2000 and 2001.
	03 November 2000	Greenwich's Capital Loading Lifted At its meeting on 31 October 2000, the Prudential Supervision Committee of Lloyd's Regulatory Board (PSC) considered that Greenwich Managing Agency Limited had reached the standards of management and control required by Lloyd's. Accordingly, it decided to withdraw the capital loading imposed on 22 June 2000.