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EDM number 659 in 1991-92, proposed by Brian Sedgemore on 12/02/1992.

That this House notes with alarm that Mr David Coleridge, the Chairman of Lloyd's, who reputedly earns ú800,000 plus profits, was accused at a meeting with Tory honourable Members of not being on the side of the primacy of the interests of the Names at Lloyd's; notes that Tory honourable Members are meeting the Minister of State at the Department of Trade and Industry to present an indictment of Lloyd's which concludes with the rhetorical question 'Is there not a structural rottenness over the conflicts of interests of the regulators within Lloyd's which can only be met by outside regulation under the Financial Services Act?'; notes allegations that 153 underwriters each took over ú100,000 in fixed salary from their syndicates and that Brian Smith of syndicate 45 had a personal underwriting result of ú213,422 for 1988 when the average external member had a substantial loss and 6,000 mostly external members have had calls from Lloyd's of over ú90,000; notes allegations that 'Time Bomb Terry' Green of 321 who paid himself ú353,220 in 1990 is having to call in ú26 million in advance against 1989 and 1990 years after stating in his last report and accounts that these years would be free of loss; and wonders if Lloyd's should arrange a pooling of the LMX losses dumped on external members.

This motion has been signed by a total of 29 MPs.

Brian Sedgemore12/02/1992Hackney South & ShoreditchProposed
Dennis Skinner12/02/1992BolsoverSigned
Ernie Ross13/02/1992Dundee WestSigned
Terry Lewis13/02/1992WorsleySigned
John McAllion13/02/1992Dundee EastSigned
William McKelvey13/02/1992Kilmarnock & LoudounSigned
Bill Michie13/02/1992Sheffield, HeeleySigned
John Cummings13/02/1992EasingtonSigned
Jimmy Dunnachie13/02/1992Glasgow, PollokSigned
Andrew Faulds13/02/1992Warley EastSigned
Harry Barnes13/02/1992North East DerbyshireSigned
Alan Meale14/02/1992MansfieldSigned
Norman Godman14/02/1992Greenock and Port GlasgowSigned
Eddie Loyden14/02/1992Liverpool, GarstonSigned
Eric Illsley14/02/1992Barnsley CentralSigned
Dawn Primarolo14/02/1992Bristol SouthSigned
Max Madden17/02/1992Bradford WestSigned
Martin Redmond17/02/1992Don ValleySigned
Dave Nellist17/02/1992Coventry South EastSigned
Keith Bradley17/02/1992Manchester, WithingtonSigned
Frank Cook17/02/1992Stockton NorthSigned
John Battle17/02/1992Leeds WestSigned
Mike Watson17/02/1992Glasgow CentralSigned
Jim Cousins18/02/1992Newcastle upon Tyne CentralSigned
Alan Williams18/02/1992Swansea WestSigned
Terry Patchett19/02/1992Barnsley EastSigned
Jack Thompson25/02/1992WansbeckSigned
Tommy Graham27/02/1992Renfrew West and InverclydeSigned
Audrey Wise03/03/1992PrestonSigned

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