Syndicate 173
| 29 January 1999 | Syndicate 173's proposed closure of 1996 and prior years of account From 1993 to 1998 syndicate 173 has underwritten in consortium with syndicate 824 (now part of Amlin managed syndicate 2001). The Consortium Agreement terminated on 31st December 1998 and syndicate 173 ceased on that date. An offer has been received from syndicate 2001 to reinsure the outstanding liabilities of the 1996 year of account of syndicate 173 on the same basis as the RITC on the 1996 year of account for syndicate 824. Amlin have also given a written undertaking, on behalf of syndicate 2001, to syndicate 173, and subject to the relevant years of syndicate 2001 closing, they will offer terms for the closure of the 1997 and 1998 years of account at the appropriate time. |
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