RNS Number:1794Q
Cox Insurance Holdings PLC
25 September 2003



25 September 2003


                           Cox Insurance Holdings Plc

       Cox outsources administration of discontinued commercial business


Cox Insurance Holdings Plc ('Cox') today announces that Cox Syndicate Management
Limited, its subsidiary managing agency, has signed an outsourcing agreement
with CMGL Syndicate Management Limited to manage the ongoing run-off
administration of its discontinued commercial portfolio underwritten by
Syndicate 1208.  The agreement is designed to maintain Cox's current programme
of rigorous cost control and risk elimination.  It remains subject to Lloyd's
approval.



Cox entered into a contractual agreement with Lloyd's in March 2002 that
isolated the commercial underwriting liabilities from the rest of the Group.
Recently Cox announced that the commercial run-off was proceeding well and that
the number of live risks had been further reduced by over 80% since January
2003.



CMGL Syndicate Management Limited, the Lloyd's managing agency of Claims
Management Group Limited ('CMGL'), is an industry leader in the specialist
management of discontinued lines of business with a ten-year track record. The
contract provides for administration of Syndicate 1208 by CMGL until final 
'reinsurance to close'.



Peter Owen, Executive Chairman, Cox Insurance Holdings Plc, said;

"This transaction provides real stability for the commercial underwriting
operations in run off and provides an excellent career opportunity to all
transferring staff to whom we owe a great debt for their ongoing loyalty. CMGL
fit all our requirements for a business partner able to offer the highest
service standards and an ability to maximise value as part of the final drive
for ultimate finality from the commercial operations. We have structured the
arrangements so that our aims are mutually aligned and look forward to a
rewarding relationship with CMGL."



Jerry McArthur, Managing Director, Claims Management Group Limited, said;

"CMGL welcomes the opportunity to work in partnership with Cox, one of the
premier names in the Lloyd's Market, and is delighted to have been selected.
This is one of the largest outsourcing arrangements in the Lloyd's market and is
an important step both for Cox and for CMGL.  Outsourcing is a growing area in
the insurance sector as forward thinking insurers are increasingly looking to
this as a way of managing their business cycles more effectively."





                                    - Ends -





For further enquiries:


Cox Insurance Holdings Plc                         Peter Owen, Chairman             020 7265 6711

Brunswick Group Limited                            Rupert Young                     020 7404 5959

Claims Management Group Limited                    Jerry McArthur, MD               020 7680 6555

Citigate Dewe Rogerson                             Phil Anderson                    020 7638 9571







Notes to editors:



Cox Insurance Holdings Plc

Cox Insurance Holdings Plc is a broad based, mature and fast developing player
in the UK retail insurance market, focusing on underwriting, broking and
insurance services.  Cox is the eighth biggest motor insurer in the UK with over
1 million customers.  For further information visit Cox at www.cox.co.uk





Claims Management Group Limited

Claims Management Group Limited is a leading provider of outsourced claims,
insurance and run-off management services that are offered to Lloyd's Agencies,
London Market Companies, General Insurers and FTSE quoted Corporations.  With an
international network of 11 offices and employing 550 personnel, CMGL manages
over 220,000 claims representing in excess of US$6.8bn of gross liabilities and
over US$2.5bn reinsurance recoverables.   For further information visit CMGL at
www.cmgl.com






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            The company news service from the London Stock Exchange
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