Lloyd's of London syndicate managing agencies, the Bermuda-based insurer revealed yesterday.

Ockham Worldwide, a wholly-owned subsidiary of London-based publicly-traded Ockham Holdings Plc, owns the agencies through an intermediate holding company.

The purchase price, to be paid in cash and notes, was not disclosed.

Ockham Holdings will retain the right to profit commission for 1994, 1995 and 1996 underwriting years.

ACE said that a conditional memorandum of understanding has been signed and the acquisition is subject to due diligence, a definitive agreement, Lloyd's approval, final approval by Ockham Holdings' board as well as Ockham Holdings' shareholders.

The deal is expected to be completed by December 31, 1996.

Ockham Worldwide's two managing agencies are Ockham Sturge Aviation Agency Ltd., which manages syndicates 960, 545, 925 and 998, and Ockham Worldwide Agency Ltd., which manages non-marine syndicates 122, 204 and 219.

Together, the seven syndicates to be acquired have a total underwriting capacity during 1996 of $542 million.

Ockham Holdings' life insurance syndicate 429 is not part of the transaction and will be retained in the Ockham Holdings Group.

Ockham Worldwide also owns a Lloyd's corporate member which provides funds at Lloyd's to support underwriting on these syndicates.

Acquisition of Ockham Worldwide will complement the Methuen business, which ACE acquired earlier this year.

ACE owns a 51 percent stake in Methuen Group Ltd. and provides corporate capital to the syndicates managed by Methuen's managing agency. These syndicates have a total underwriting capacity of $572 million.

ACE said that Methuen's chief executive Leslie Goodman will continue as chief executive of ACE's expanded insurance operations at Lloyd's following completion of the deal.

Earlier this year, ACE acquired Bermuda-based property catastrophe reinsurer Tempest Reinsurance Company Ltd.