Merger of Syndicates
Amlin PLC
27 April 2000
AMLIN TO MERGE SYNDICATES 902 AND 1141 INTO SYNDICATE 2001
Amlin plc, the specialist insurer, today announces that its recently combined
managing agency, Amlin Underwriting Limited ('AUL') intends to merge, subject to
Lloyd's approval, Syndicates 902 and 1141 into Syndicate 2001 ('the Merger').
AUL became the managing agent of Syndicates 902 and 1141 following the merger of
AUL and Angerstein Underwriting Limited on 31 March 2000. The AUL Board believes
that the Merger will bring benefits to all capital providers. The enlarged
Syndicate 2001 will have increased financial strength and underwriting presence,
and be able to achieve efficiencies and cost savings through economies of scale
and rationalisation in a number of areas.
Capital providers will have an opportunity to vote on the merger proposals in
Extraordinary General Meetings of the Syndicates, to be held in the Old Library
at Lloyd's One Lime Street, London, EC3M 7HA, on 25 May, commencing at 2.30pm.
The ballots are only consultative and will not bind Lloyd's to approve or
disapprove the Merger.
Enquiries:
Amlin plc - Charles Philipps, Chief Executive - 020 7860 8222
- Richard Hextall, Finance Director - 020 7860 8916
Haggie Financial Ltd - David Haggie - 020 7417 8989
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