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Syndicate Re A.I is an international reinsurer licensed in Puerto Rico. It was formed in 2007, principally to reinsure the run-off of discontinued lines of business. Currently business is sourced from its wholly owned subsidiary based in London, RITC Syndicate Management Limited, which manages a Lloyd's syndicate, Syndicate 5678 offering Reinsurance to Close (RITC) of open years and discontinued businesses at Lloyd's.