Greenwich Group - Syndicate News

Marlborough Underwriting Agency Ltd

	01 September 1999	Syndicate 744 - latest 1998 forecast result Marlborough has released details of its 2nd Syndicate Quarterly Return containing a forecast for the 1998 account of a loss between 42.5% - 47.5%. Due to the severe deterioration of the figures, Andrew Baugh, the active underwriter of Syndicate 744, arranged an independent review of the reserve estimates, which has been carried out by the Syndicate's actuaries, Lane Clarke and Peacock, and incorporated into the latest forecast. Andrew Baugh has confirmed that he is actively seeking to purchase stop loss reinsurance in order to cap this potential loss.
	02 December 1998	Syndicate 744 1997 deterioration There has been a considerable deterioration in the 1997 account figures for this syndicate. The latest estimate for its result is a loss, after syndicate and personal expenses, of 7.5% to 12.5%. Previously, the estimated result was 0 to 5% profit.