Amlin boosted its bank borrowings to £60m from £39m to help support its next two years of underwriting. The Lloyd's operator will also continue to use the backing of US giant State Farm, which gives it a letter of credit worth $130m (£83m).

The bank loans were arranged by Lloyds TSB Capital Markets and were provided by Barclays Bank, Commerzbank AG and Lloyds TSB.