Wren Syndicates Management Ltd sells interest in Lutine Assurance Services Ltd

BRIT Insurance Holdings PLC is pleased to announce that its Lloyd's Managing Agency, Wren Syndicates Management Ltd has agreed to sell its interest in Lutine Assurance Services Limited
October 19,2000


BRIT Insurance Holdings PLC is pleased to announce that its Lloyd's Managing Agency, Wren Syndicates Management Limited, has agreed to sell its interest in Lutine Assurance Services Limited for a consideration of £1.6m, subject to certain approvals being obtained.
The net proceeds will be realised in Wren Life - Syndicate 389 at Lloyd's 2000 year of account, which is 95% owned by BRIT.
BRIT has established its own life distribution initiative and Wren Life won the British Insurance Awards 2000 "Lloyd's Syndicate of the Year".
Neil Eckert, BRIT's Chief Executive said "this represents a further step to focus our operation and dispose of non-core investments".
 
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