I found a little bone. Maybe it is just cartilage. This was in an old Canopius filing.
"Finally, I would like to mention the outstanding performance of the team who manage the affairs of Syndicate 839(“S839”). S839 is the predecessor Syndicate to S4444 and has continued to be managed by Canopius since the MBO in December 2003. Penny Whitwell and her team has consistently delivered excellent results, reducing the forecast loss from £40 million at year end 2005 to £17 million at eventual closure at the end of 2007. It is a source of regret that Canopius did not benefit directly from this improvement: as part of the MBO structure, Canopius had no underwriting interest in this syndicate’s results."
- Canopius annual report to shareholders.
(I used google's cached version in case the original page is password protected)
The $536 million question. Who does?
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