Greenwich Group - Syndicate News

Denham Syndicate Management Ltd

	30 September 1999	Lloyd's approve Peter Matson as Underwriter of Syndicate 990 With reference to our earlier article of the 17th June, Lloyd's have now approved the appointment of Peter Matson as Underwriter of Denham Syndicate 990 with effect from 1st January, 2000. Geoffrey Thrower has been appointed Deputy Underwriter and Malcolm Cox Chief Executive.
	06 September 1999	Blunt Bloodstock, Livestock and PA Underwriting Services Ltd. ("BLUNT") Denham Syndicate Management Ltd. ("DSML") is in negotiations with Robin Blunt for the sale and purchase of his 35% holding in Blunt. Blunt is a service company and the shareholding is currently split between Denham Direct Underwriters Ltd. ("DDUL") and Robin Blunt on a 65%/35% basis. Any profit made by DDUL is passed directly to Syndicate 990.
	28 July 1999	Henry Keeling to join Board of NAC Re International Holdings Subject to Lloyd's approval, Henry Keeling will be joining the board of NAC Re International Holdings, the immediate holding company of Denham Syndicate Management Ltd (DSML), as Non-Executive Chairman. It has been agreed, following a review, that he will join the board of DSML as a Non-Executive Director and Ronald Bornheutter will remain Non-Executive Chairman.
	01 July 1999	Denham re-shuffle Denham Syndicate Management, the Managing Agent of Syndicate 990, is a subsidiary of NAC Re Corp. On 18th June, NAC Re Corp merged with XL Capital Limited. DSML have applied for consent of Change Control accordingly. XL Capital Limited are the ultimate holding company of The Brockbank Group Plc. Malcolm Somerville, a Director of DSML is resigning his Membership of Lloyd's and will be trading his capacity at Auction.
	17 June 1999	Peter Matson to be appointed new Underwriter of Syndicate 990 Subject to Lloyd's approval, Peter Matson, the current Deputy Underwriter of Syndicate 990, will be appointed Active Underwriter as at 1st January, 2000. It is also proposed to appoint Geoffrey Thrower, who has been responsible for underwriting the majority of the direct Canadian personal lines, commercial property and general liability, as Deputy Underwriter. Malcolm Cox will become Chief Executive Officer and Underwriting Director and will continue to underwrite on behalf of the Syndicate but in a reduced capacity.
	03 June 1999	Simon Lightbody appointed as International General Liability Underwriter for Denham Syndicate 990 As Denham Syndicate Management Ltd. intend to develop the long tail proportion of Syndicate 990, they have appointed Simon Lightbody as International General Liability Underwriter. He joins the Syndicate having previously worked at the Eagle Star Re and the Chiyoda Insurance Company. At present they have an estimated income of Ł2m for the 1999 Account but may take on the existing portfolio written by Simon Lightbody which has the potential to increase the income to Ł3.8m.