Lloyd’s underwriters were summoned the last two weeks twice by the corporation of Lloyd’s at the old library. All syndicates have been instructed by Lloyd’s to review their business plans and present new plans to address loss making sectors. In case Lloyd’s are not satisfied with the revised business plans and progress made, then Lloyd’s may force syndicates to close down. Nowadays, most marine syndicates are coming off lineslips and facilities, where they are followers as these appear to generate a large part of their loss making account. Recently, Barbican & Amtrust have pulled out of all marine and it appears that Kiln are running off their marine book. In addition, Pioneer & Argo are not renewing any Greek business. Advent are not renewing any marine risks excluding few specialist interests. Various other syndicates have substantially increased minimum premium requirements whilst reducing their lines at the same time. In our opinion, we are highly likely to see more marine syndicates closing their doors on most if not all marine interests over the next six months. The above appear to indicate that the H&M soft market has ended.