Duncanson Holt Syndicate Management is close to finding buyers for its four remaining Syndicates, 55, 1308, 1999, and 1101, its managing director Andy Ripley said.

"We expect to have completed the deals by the end of this year," he said.

Parent company UNUM Provident has guaranteed capacity on the four syndicates for the year 2000 account.

The other syndicate under Duncanson Holt Syndicate Management, 957, ceased underwriting in September.

Meanwhile, UNUM Provident has put its pooled reinsurance company, Duncanson Holt Europe, into run-off this week.

Ripley said the decision was taken to close the division, which has about 30 members of staff, after failing to find a buyer.