Greenwich Group - Syndicate News

St Paul Syndicate Management Ltd

	08 July 1999	New Underwriter for Syndicate 314 Justin Tweedie, Active Underwriter of Syndicate 314, will leave on 30th September, 1999. Subject to Lloyd's consent, Richard Carver, Non-Marine Reinsurance Underwriter of Odyssey Re, London, will replace him on 1st October, 1999.
	08 April 1999	Active Underwriter to leave Syndicate 314 St Paul Syndicate Management Ltd have announced that Justin Tweedie, Active Underwriter of Syndicate 314, has tendered his resignation and will leave the Syndicate on 16th June 1999. St Paul are reviewing their options in respect of this Syndicate.
	12 January 1999	Syndicate 314 Involved in Extended Warranty Problem Ashley Palmer have an involvement in the Houston General extended warranty contract which has recently deteriorated substantially. Their participation was a line of 3.98% in 1996 and 3.77% in 1997. The syndicate is reviewing the actuarial and claims audit commissioned by the leading underwriter and based on pessimistic ultimate loss ratio projections. The loss to the syndicate for each year is approximately US $500,000. The manager's forecasts of the syndicate's results for 1996 is amended to 0 to 5% loss (previously 0 to 5% profit), whereas the 1997 account remains unaltered at 0 to 5% profit.