Limit proposes to merge liability syndicates

LONDON - Lloyd's integrated vehicle, Limit, yesterday said proposals will be put to the capital providers of its three managed liability syndicates 45, 386 and 1156, to merge the syndicates for the 2000 year of account. The basis of the merger is expected to be �1 of capacity on the merged syndicate for each �1 of capacity held on the three existing syndicates. Under the proposals, Bob Wallace, active underwriter of 386 will take on the same role with the merged syndicate until his retirement and John Murphy, active underwriter of syndicate 1156, will succeed Mr Wallace for the 2002 account