Virtual insurer Fusion today announced a near-doubling of its capacity for 2004
Gross written premium capacity increased to at least £130m at Lloyd's, a 40% increase on last year.
The estimated ...
Virtual insurer Fusion today announced a near-doubling of its capacity for 2004.
Gross written premium capacity increased to at least £130m at Lloyd's, a 40% increase on last year.
The estimated maximum loss capacity on individual commercial property risks will rise by 38% to £25m from £18m.
This means that Fusion, owned by Lloyd's insurer SVB, will be able to write cases up to £75m.
Managing director Kevin Pallett said the increase was "excellent news" for Fusion's brokers.
He said: "We will be able to offer them even greater flexibility in 2004 by providing tailor-made risk management and insurance solutions to meet their clients' needs.
"This double increase in capacity is the best endorsement of the quality of business handled by our carefully selected panel of brokers that we could have asked for."
