TIME EUROPE
WEB FILE - LLOYD'S OF LONDON
SPECIAL REPORT
From Sir Edward Heath, M.P.
Mr Chris Redman
Editor
Dear Mr Redman,
There is no truth whatever to the caption under my photography on page 43 of 'Time', issue of 21st February 2000, indicating my potential exposure at Lloyds of London in the mid-1990's as $1.4m. I ceased to be a Lloyds underwriter in 1995.
My chartered accountants state in a letter dated 23rd February 2000:
"Dear Sir Edward
LLOYDS
For the period that you were a Lloyd's Underwriter, i.e. for the 1979 to 1995 Underwriting Accounts, from a commercial prospective you broadly broke even. That is to say your losses from all your syndicates at Lloyds approximated to your syndicate profits, your stop loss policy reclaims, your Lloyds recoveries and your tax repayments."
Kindly print this correction in your next issue.
Yours sincerely
Edward Heath
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