Lloyds Shuts Down Goshawk Syndicate

International Editor

Lloyds of London has forced Goshawk Syndicate Management Ltd. to put Syndicate 102 into runoff, effective on Oct. 30, 2003, in the first public display of the power of the new Lloyds Franchise Board.

The Lloyds Franchise Board, which has been in place since January 2003, is monitoring the performance and management of syndicates to assure that syndicates are operating in a manner that protects the Lloyds franchise.

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