Eton Management Corporation

A broker who has been active in the Bermuda insurance market for many years has been sentenced to 33 months in prison in the United States for defrauding the New York-based Clarendon Insurance Group. Martin Hoffman, of Bal Harbour, Florida, is due to begin serving his prison-term on October 2, 2006. He was also ordered to pay restitution of $4,222,182 to Clarendon at his sentencing hearing at the U. S. District Court for the Southern District of New York on May 15, 2006.