Hiscox has secured a qualifying quota share (QQS)
reinsurance arrangement for the 2002 account for up to £50m with an affiliate of the Berkshire Hathaway Group.
This is in addition to the existing £151m of QQS.
The QQS reinsurance arrangements will increase the capacity of Syndicate 33 for 2002 from £504m to £705m.
The syndicate capacity for 2003 has been increased to £844m before utilisation of QQS reinsurance arrangements which could increase capacity in 2003 by a further 40%.
Chairman Robert Hiscox said: "We are very pleased to have the support of such a distinguished industry participant as Berkshire Hathaway.
"This is an excellent arrangement for Hiscox shareholders allowing us to increase our exposure to the strongest market in many years."
