Completion of acquisition

RNS Number:4231T
Chaucer Holdings PLC
18 December 2003

FOR IMMEDIATE RELEASE                                           18 December 2003

                        CHAUCER HOLDINGS PLC ("Chaucer")

          CHAUCER TAKE OVER OF MANAGEMENT OF SYNDICATE 1204 COMPLETED

Following the announcement of 24 October 2003, Chaucer Syndicates Limited, the
managing agency subsidiary of Chaucer Holdings PLC, has completed the take over
of the management of professional indemnity Syndicate 1204 from Kiln PLC.

Highlights:

-  Having completed a review of the business, Chaucer will seek to renew
   a niche account of claims made hospital liability business. The business will
   be underwritten by Syndicate 1084 and will account for less than 5% of gross
   premium income in 2004.
-  Syndicate 1204 will not trade into 2004.
-  Chaucer will administer the run-off and intends to close the 2003 year
   of account of Syndicate 1204 into Syndicate 1084 for a fee.
-  Chaucer is not assuming any liability in respect of business written
   by Syndicate 1204 prior to the RITC of the 2003 year.

The renewal rights provide an excellent opportunity for Chaucer to bring a new
line of specialist business into Syndicate 1084 that offers the prospect of very
good returns in the current underwriting climate as well as generating
additional management fee income to provide a contribution to Group overheads.

For further information, please contact:

Bob Stuchbery, Underwriting Director    Chaucer Holdings PLC       020 7397 9700
David Haggie                            Haggie Financial Limited   020 7417 8989


Website: www.chaucerplc.com



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