UK insurer Admiral Group plc has successfully used the procedure contained in Part VII of the Financial Services and Markets Act 2000 to transfer business – a motor book – from its Lloyd’s Syndicate  to Admiral Insurance Company and then close the syndicate. This is only the second time that the Part VII mechanism has been used to transfer a non-life portfolio out of Lloyd’s. The previous transfer of business out of Lloyd’s was also a motor book last August, when Highway moved the books of Syndicates 37 and 2037 from Lloyd’s to Highway Insurance Company.