Capacity Offer
14 October 2002
MINORITY BUY-OUT OF CAPACITY ON SYNDICATE 2001
Lloyd's has today approved the application by Amlin and its wholly-owned subsidiary, Amlin Underwriting Limited, to proceed with the compulsory acquisition of all of the outstanding capacity on Syndicate 2001 which Amlin and its subsidiaries does not hold and has not acquired pursuant to the capacity offer made on 2 August 2002.
Accordingly, Amlin announces that it will proceed to acquire such capacity, subject to the right of underwriting members to participate on Syndicate 2001 for the 2003 year of account only to a limited extent ('Limited Tenancy Capacity').
Following the minority buy-out and subject to such Limited Tenancy Capacity, Amlin and its subsidiaries will own 100 per cent of Syndicate 2001's capacity for the 2003 year of account.
Enquiries:
Amlin:
Charles Philipps 020 7746 1000
Richard Hextall 020 7746 1000
Haggie Financial Limited:
David Haggie 020 7417 8989
