Lloyd’s reported that it expelled four members.

Lloyd’s of London, the world’s biggest insurance market, found the four guilty of dishonest conspiracy. Two were also found guilty of misappropriating funds and falsifying accounts. Three formerly headed Alexander Howden Group, a brokerage acquired in 1982 by Alexander & Alexander Services, which later discovered underwriting irregularities at Howden. The four are Kenneth Grob, Ronald Comery, Jack Carpenter--chairman and deputy chairmen of Howden--and Mario Benbassat, managing director of Banque du Rhone et de la Tamise.