Hampden Agencies said it had completed the sale and purchase of five NameCos since receiving its licence from the FSA in July.

Hampden said the deals represented capacity of £5m for 2005.

Hampden chief executive Nigel Hanbury said two major issues had attracted buyers to NameCos in the second and third quarters of 2004.

"First, the depressed price of syndicate capacity in the annual autumn auctions, and second, the premium-raising effect of this year's unusually savage Caribbean hurricane season," he said.

Hampden also said it had seen a resurgence in inquiries following the spate of hurricanes in the Atlantic in August and September.

"This is likely to be linked to news that the hurricanes have improved the immediate prospects for property insurance rates," said the company.