The emergence of fraud at PCW was the first in a series of events that led to the resignation of the Lloyd's chairman Sir Peter Green in 1983. Lloyd's was later forced to make a settlement with the roughly 3,000 Names on the various PCW syndicates involved and to reinsure their liabilities into a new syndicate, number 9001, in turn reinsured by a unique vehicle named Lioncover, which was set up as a Lloyd's subsidiary insurance company. Lioncover assumed the liabilities under PCW and its associated underwriting agencies in 1987. In 1988 it also assumed the 1967-1969 liabilities under Cameron-Webb's syndicates 2 and 49. Dixon and Cameron-Webb remained at large in the US; Cameron-Webb reportedly died in 2004 in a nursing home in California.