Lloyd's managing agent Creechurch will boost its professional indemnity (PI) capacity by around 40% in 2004.

A Creechurch spokesman confirmed that the insurer would write around £12m of PI business in 2004. This compared to £7.5m in 2003.

The business will be written by syndicates 1607 and 2962. Creechurch Syndicate 0962 ceased writing business in 2003.

Last month, Brit bought the £20m renewal rights to Creechurch's property portfolio.

Under the terms of the deal, Brit will not assume any liability in respect of business written prior to 1 October 2003.

But Brit will manage the run-off of elements of the existing business for an undisclosed fee.

As part of the deal, a team of Creechurch underwriters and support staff, led by senior UK commercial property underwriter Jon Bartlett, joined Brit.