Syndicate 1204

RNS Number:3063R
Kiln PLC
24 October 2003



                              R J KILN AND CO LTD


Heads of agreement signed for transfer of Syndicate 1204 to Chaucer Holdings plc

Lloyd's managing agent R J Kiln & Co. Ltd (Kiln), a subsidiary of Kiln plc, has
signed heads of agreement to transfer the management of professional liability
Syndicate 1204 to Chaucer Holdings Plc (Chaucer).

It is expected that Syndicate 1204's 2003 year of account will be closed into
Chaucer's Syndicate 1084, subject to the usual requirements relating to
reinsurance to close. Syndicate 1204 will not underwrite for the 2004 and future
underwriting years of account. The majority of Kiln's Syndicate 1204 staff will
join the Chaucer Group, which will assume the business renewal rights for 2004.


Edward Creasy, Chief Executive Officer of Kiln plc, said:



"Kiln's strategy has evolved over the last few years so that we are now
focussing on our core short tail business.  Our participation in the non-marine
liability market is principally through our investment in W.  R. Berkley
(Europe) Limited.



"We are delighted that Janet Helson and the Syndicate 1204 team have found a
prospective partner in Chaucer, and wish them every success in the future."



                                                                 24 October 2003


Enquiries:

Kiln plc                                        Tel: [phone]
Edward Creasy, Chief Executive Officer

College Hill - PR for Kiln plc                  Tel: [phone]
James Henderson                                 [e-mail]


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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