Brit Insurance has announced plans to expand its operations outside Lloyd's of London.
The move follows yesterday's announcement of an impending £204m cash call.
Brit runs two Lloyd's syndicates plus a non-Lloyd's reinsurance company.
Brit plans to use £80m of the new capital to diversify the business being underwritten by its non-Lloyd's company.
Another £80m of capital is being set-aside to expand the its Lloyd's underwriting so it can take advantage of rising premiums.
Chief executive Neil Eckert said: "We've come with a strong story and we want to grow in the most profitable conditions we have known. We don't envisage coming back to the market again."
Last year Brit made a cash call for £154m but insurance premiums have continued to rise since then.
Mr Eckert said trading conditions remained strong. "However premium increases in personal lines have started to plateau."
Brit also plans to explore several non-equity financing opportunities, including extending existing bank facilities to increase further the level of its underwriting activities.
