Chaucer Holdings has applied to Lloyd's for permission for a minority buy-out of the £8.8m outstanding capacity of Syndicate 1084 that it does not already own.
The cost of buying the capacity is estimated at £3.4m.
Chaucer said valid acceptances of the capacity offer from members totalled approximately £31.3m of capacity, representing 77.9% of the outstanding capacity of Syndicate 1084.
The acquisition would increase Chaucer's interest, including associated members, to 97.8% of Syndicate 1084 for the 2004 year if account.
