Ascot Underwriting, the Lloyd's managing agency, has received consent to increase its underwriting capacity for 2003 by £71m to a total of £340m. Ascot's Syndicate 1414 is backed by AIG.
Martin Reith, managing director of Ascot, said: "Lloyd's remains an attractive market for us and this increase in capacity reflects our commitment to continue writing profitable business there."
He said the company was still building its business and could not rule out further capacity increases this year.
