Goshawk Insurance has broken into the professional indemnity (PI) market at Lloyd's.

PI underwriter Martin King, formerly with Cotesworth syndicate 1688, has been appointed to write up to £5m of PI business a year for Goshawk's syndicate 102.

Syndicate 102 was recently converted from writing mainly short and medium marine business to more long-tail composite business.

King is said by Goshawk to have extensive contacts in the London and overseas PI markets.

Paul Toomey, active underwriter for syndicate 102, said adding PI business to its 15 existing classes of marine and non-marine business would increase its spread of profitability.

He said that most of the PI business it will be writing would be for UK-based companies, but that it would also include some business from Europe, the far east and Australia. Goshawk Insurance has a capacity of £150m at Lloyd's.