Greenwich Group - Syndicate News

Sterling Underwriting Agencies Ltd

	07 January 2000	Ethridge dismissed Sterling Underwriting Agencies Ltd have updated capital providers concerning these two Syndicates. Syndicate 1093 ceased trading with effect from 31.12.99 and Syndicate 529 will continue underwriting marine and non-marine business. Syndicate 529's capacity will remain the same for 2000 (Ł31m) which will be provided solely by Riverside Corporate Underwriters Ltd. Martin Ethridge was dismissed as active Underwriter by the Board of Sterling on 10th December and it is proposed, subject to the usual consents, that Maurice Howell will be appointed active Underwriter of the Syndicate. On 10th December, T.G. Brown resigned as a Director of the company and W.A. Barnett was appointed. The agency will be writing to capital providers again to update regarding control of the Agency.
	11 October 1999	Riverside acquire majority share in Sterling Sterling Underwriting Agencies Ltd. have announced that subject to contract, Riverside Underwriters Plc. have agreed to acquire a majority shareholding in Sterling, including all shares held by Margent (U.K.) Ltd. Riverside intends to provide capacity support to Sterling for year 2000.
	21 December 1998	Syndicate 529's Estimates Deteriorate Syndicate 529 - Sterling Underwriting Agencies Ltd. - The Syndicate's managers have submitted revised estimated results due to its participation in the Byas Mosley U.S. Automobile Warranty Account and the Houston General Insurance Co. Brown & White Goods Warranty Reinsurance Account. The Syndicate participated on one or both of these accounts between 1994 and 1997 inclusive. The revised mid point estimates are as follows:- Year of Account Revised Figure at 12/98 Quarterly figures at 30/9/98 1996 and Prior 0% 10.8% 1997 2% 4.8%