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Brit Syndicates to manage new Lloyd's syndicate

The Lloyd's ofLondon franchise board approved a new syndicate, Syndicate 2988,which will be managed by BritSyndicates Ltd.

The syndicate will be supported by private Lloyd's membersand aims to start underwriting on or after Jan. 1, 2017, subject to completionof the final stage of its Lloyd's application framework. It will have acapacity of £52 million for its first year of trading, with underwriting to beundertaken by Fairfax FinancialHoldings Ltd. unit Brit Ltd.'s existing teams.

Brit Syndicates Ltd. is Brit Ltd.'s Lloyd's managing agent andalso manages Syndicate2987.