Hardy, the Lloyd's managing agent, is to boost the capacity of syndicate 382 to £100m next year from £54m this year.
The group aims to buy up all the syndicate's capacity it does not already own.
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Hardy, the Lloyd's managing agent, is to boost the capacity of syndicate 382 to £100m next year from £54m this year.
The group aims to buy up all the syndicate's capacity it does not already own.
It will pay 12.6p for each £1 of capacity.
It currently owns 79.8% of the syndicate's capacity.
The company also said today that changes in Lloyd's rules will mean the risk based capital ratio required of the syndicate will fall to about 55% next year from 57% this year.
It is expected to rise again in 2004 and 2005.
