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About Us

RITC Syndicate Management Limited was formed in 2007 with the primary objective of providing Reinsurance to Close ("RITC") for the many open years of syndicates at Lloyd's.

RITC Syndicate Management Limited established a new syndicate (5678) specifically dedicated to writing RITC business. Syndicate 5678 has been approved by Lloyd's and by the FSA. In granting approval, Lloyd's has permitted the syndicate to provide its capital in line with business written or assumed, and capital will be provided accordingly.

Syndicate 5678 will be a primary trading entity in a group of companies established specifically to provide closure for open years at Lloyd's. The group has excellent financial backing provided by Syndicate Re, A.I.

In our first year of trading we successfully established ourselves as a leading player in the London run-off market. We are now one of the largest (possibly the largest) writer of run-off at Lloyd's and looking to expanding in the worldwide company market. We have funds under management in excess of $812m representing capital and insurance reserves.

Recent events in global financial markets have changed the run-off RITC markets. Reductions in expected levels of investment income have caused some markets to re-evaluate their approach to this type of business. It is unlikely that new markets will appear and we are far from certain that better terms could be obtained in twelve or even twenty four months time.

However, we with our very strong financial backers have access to substantial capital to support future business provided where it falls within our disciplined run-off underwriting parameters.

The Board

Anthony Hines - Chairman
Nigel Rogers - Chief Executive Officer
Dinah Gately - Claims
Chris Hare - Business Development
Roy Katzenberg - Chief Financial Officer
Nick Wooldridge - Underwriter

Don McCrickard - Independent Non Executive
Steven E. Fass - Independent Non Exectuive
William Spiegel - Non Executive (Pine Brook Capital Partners)
Alex Fridlyand - Non Executive (Soros Strategic Partners LP)
Shirley Blakelock - Company Secretary
Auditors - Ernst & Young LPP