Subject: REQUIREMENT TO MAKE A MANDATORY OFFER
Syndicate(s) Affected: SYNDICATE 2526
Following the conclusion of Auction 2, AmTrust Corporate Capital Ltd (‘AmTrust’) is entitled to participate in Syndicate 2526 for the 2015 year of account with a member’s syndicate premium limit in excess of 75% of the allocated capacity of that syndicate.
Accordingly, AmTrust is required to make a mandatory offer in 2015 to acquire all of the capacity that it does not already own for the 2016 year of account, pursuant to paragraphs 2 and 3 of the Mandatory Offer Byelaw. This obligation will be satisfied through the 2015 auction process and/or in the form of a capacity offer in accordance with the prescribed timetable.
In the meantime, AmTrust may also participate in the remaining auctions during 2014 to acquire further 2015 capacity entitlements.
Date issued: 10 OCTOBER 2014
Agency contact name: SIMON NORTON
Agency contact no: +44 (0)20 7743 0900
For auction office use only: D2014014
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