Amlin Group is on the verge of securing more than 97% of the total capacity on Syndicate 2001.

The group says it now plans to apply to the Council of Lloyd's to effect a minority buyout of the syndicate.

Amlin had received over £200m of capacity at the close of the offer on

16 September, representing over 97% of the outstanding capacity of Syndicate 2001.

Under the share offer elections a total of 14,695,809 Amlin shares have now been issued, representing 3.8% of the issued share capital as enlarged by the share offer.

In all, £28.94m in cash has been paid out to members under the cash alternative elections, the group said.