Early indications suggest Lloyd's managing agents are achieving end-of-year targets on contract certainty.

The Market Reform Group said it expected everyone to reach targets for December 2005, but that definitive figures for contract certainty would not be available until next month.

Current FSA approved targets state that contract certainty should be achieved on at least 30% of business transacted by the end of 2005, with 60% achieved by June and 85% by the end of 2006.

SVB chief executive Jeremy Adams said although it was just a "snapshot" of one week in December, it had achieved contract certainty on 87% of inward business.

Markel, Brit and Chaucer confirmed they too had comfortably met the December target.

On Monday, Brit also announced that it achieved contract certainty on more than 75% of its 1 January outwards reinsurance placements.

But chief executive Dane Douetil said it was not a time for complacency and the market needed to face up to its responsibilities to achieve contract certainty.