Greenwich Group - Syndicate News

RGB Underwriting Agencies Ltd

	01 September 1999	Syndicate 490 ceases with immediate effect Capital Re, who own 100% of the share capital of RGB Underwriting Agencies Ltd and provide the bulk of the capacity to its Syndicates through CRC Capital Ltd, has been actively seeking a purchaser for the agency and an alternative provider of capacity. As a result of the withdrawal of CRC Capital Ltd's support for Syndicate 490, the board of RGB Underwriting Agencies Ltd has decided that the interests of all capital providers are best served by ceasing all underwriting with immediate effect for the current and all future years of account. Peter Brotherton, active underwriter of Syndicate 490, and Alan Satterford, deputy underwriter of Syndicate 490 and active underwriter of Syndicate 1171, have announced that they intend to resign from the board of the Agency.
	11 June 1999	RGB announces proposed minority buy-out RGB Underwriting Agencies Ltd have notified members of Syndicates 490 & 1171 of their intention to terminate the standard members agents agreement in connection with their proposed minority buy-out of Syndicates 490 and 1171. The Business Conduct Committee has given its conditional consent to the termination of the standard managing agents agreement with the members of both Syndicates, which will be subject to the approval of the proposed minority buy-out under the Major Syndicate Transactions Byelaw.