Hardy Underwriting Group's plan to increase its 2004 capacity for Syndicate 382 to £115m has been approved by Lloyd's.
The Lloyd's franchise performance directorate sanctioned the £15m increase earlier today. A Hardy statement said the increase will not have a "material effect on the balance or composition of the syndicate's business".
Hardy Underwriting owns 80.4% of the capacity of the aviation-focused syndicate and the approval will see the group's own underwriting capacity increase to £92.5m from £80.4m.
