Advent Capital has announced an increase of £80m in the underwriting capacity of Advent Syndicate 780.
The Syndicate is set to go into the 2003 account with £230m of capacity. Advent Capital will provide around 45% of the underwriting capacity.
The underwriting team, led by Paul Upton and Lloyd Tunnicliffe, will focus on non marine and marine reinsurance business.
Keith Thompson, Advent Capital chief operating officer said: "Our drive has been to focus on one underwriting unit for 2003 in the form of Syndicate 780 with strong capital backing from Advent Capital and continued support from third party capital providers.
"We now look to build on the excellent underwriting figures we are currently seeing for 2002 which should see the Group return to profit."
