QBE ANNOUNCES MANAGEMENT CHANGES FOR LLOYD’S SYNDICATES

Following its recent acquisition of Lloyd’s insurer LIMIT, Australia’s QBE Insurance Group has announced that the management of syndicate 2999 and its sub-syndicates will transfer from QBE Underwriting Agency to LIMIT Underwriting Ltd at the beginning of November. For the 2001 underwriting year of account the underwriting of syndicates 2999 and 79 will be consolidated into two divisions. Stephen Gargrave, currently active underwriter for sub-syndicate 2724, will be responsible for all marine and energy business. Mark Harrington, currently active underwriter for syndicate 2000, will take responsibility for all non-marine classes of business, in addition to being nominated as active underwriter for syndicate 79. The businesses of syndicates 79, 2000, 2724 and 2345 will continue unchanged for the time being, QBE noted. The group also announced that Mel Goddard, active underwriter for syndicate 1223, had decided to leave QBE.