Wren posts losses

The five Wren managed syndicates (which were acquired by Brit Insurance Holdings in 1999) made an aggregated loss for 1997 of £293m (US$463m). Syndicate 250 was the worst performer, producing a loss at the upper end of earlier forecasts caused by a poor loss experience from its financial institutions account and a large number of attritional losses from its professional indemnity account.