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21 May 2012

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GoshawK syndicate set for 2011 RITC closure

15 December 2010

Syndicate 102, the controversial GoshawK syndicate that went into run-off in 2003 following a series of failed racy underwriting bets, is finally set to be "closed" and weaned off the Lloyd's Central Fund.

According to sources, Randall & Quilter (R&Q) has won a tender this month to provide a "reinsurance-to-close" (RITC) to Syndicate 102.

To facilitate the closure, R&Q will form and separately capitalise a new syndicate to write the business.

R&Q - which already manages the syndicate on behalf...

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