Atrium Underwriting said today it expects annual profit to be "substantially...

Atrium Underwriting said today it expects annual profit to be "substantially higher" than market forecasts.

Pre-tax profits for 2004 will not be less than £30m, the company said.

Profits were boosted by better than expected results from third-party managed syndicates and earlier recognition of profits ahead of the move to annual accounting for Lloyd's syndicates, the company said.

Atrium will formally announce its annual results on 26 April.