Greenwich Group - Syndicate News

D P Mann Ltd

	22 May 2001	D.P. Mann Syndicate 435 - Faraday Faraday is the new brand name for the operating platform focused purely on the broker distribution channel, formed from D.P. Mann and the Cologne Re of London. The new operation will have premium income forecast in excess of Ł500M (US$750M), sourced from the Lloyd's and companies market and a diverse range of worldwide insurance and reinsurance classes. The senior management team overseeing Faraday will consist of Hans-Peter Gerhardt, Chairman; Nigel Barton, Chief Executive Officer; David Mann, Chief Underwriting Officer and Henry Ashton, Chief Operating Officer. As a result of the change of name, D.P. Mann Limited will become Faraday Underwriting Limited, D.P. Mann & Others Syndicate 435 will become Faraday Syndicate 435 and Cologne Reinsurance Co. Limited will become Faraday Reinsurance Company Limited. Faraday will continue to underwrite its core business through five teams: UK and International, Commercial Lines, Specialist Lines, Property Treaty and Aviation and Marine.
	01 June 2000	Syndicate 435 - 2000 cash call D.P. Mann has announced that it will be making a 12.5% cash call on Syndicate 435 for the 2000 account. This call is due for payment on 30th June 2000. The Managing Agency confirms that this cash call has arisen as a result of syndicate working capital requirements, rather than a result of poor trading, which is due to the increase in onerous regulatory funding, particularly in the US.
	01 April 1999	Syndicate 435 announces increase in 1999 Premium Estimates In their 1999 Business Plan, D.P. Mann estimated their premium income to be Ł191.4m. They have subsequently reviewed their plan and increased this to Ł224.6m. This represents an approximate increase in utilisation from 80% to 95%.