7th Dec 2007 09:23
Admiral Group PLC07 December 2007 Admiral Group plc 7th December 2007 Closure of Admiral Lloyd's Syndicate The Board of Admiral Group plc ("Admiral") is pleased to announce that Courtapproval was obtained on 21 November 2007 for the transfer of the business ofLloyd's Syndicate 2004 to Admiral Insurance Company Limited, pursuant to PartVII of the Financial Services and Markets Act 2000 (the ' Transfer'). TheTransfer has now become effective. Syndicate 2004 underwrote a share of the premiums retained by the Group from2000 to 2002. From 2003 the Group underwrote its share of UK private motorbusiness through Admiral Insurance Company Limited and Admiral Insurance(Gibraltar) Limited. Under the transfer, the remaining liabilities of Syndicate2004 now vest in Admiral Insurance Company Limited. The transfer will simplify our group structure, accounting and regulatoryprocesses and streamline our capital position. The impact of the Transfer on theresults of Admiral for the year ended 31 December 2007 will not be material. For further information: Stuart Clarke, Company Secretary 029 20434229Louisa Scadden, Investor Relations Manager on 029 20434394 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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