Nineteen syndicates and five managing agents have increased their risk-based capital to meet the demands of Lloyd's regulators, said the head of regulation David Gittings.

About £3 billion worth of premiums were found to be in the hands of insurers with either inadequate management or an over-exposure to their risks earlier in the year.

As a result, regulators called for them to increase their risk-based capital – by up to 20% in some cases – before the November 26 deadline.

Gittings said each of the syndicates and managing agents have now met the regulators' demands.

He added that the 13 managing agents called to improve their management resources are still being monitored.

Five are being allowed to continue with their present management structure but only if they do not expand their business. Eight were given a deadline of six months to improve management controls