Lloyd's insurer Amlin this week revised its estimate of losses arising from the September 11 attacks to £60m before tax.

Amlin previously estimated its losses at £45m. The company said the revision was the result of a change of information received from insureds.

The insurer was recently granted permission to increase its capacity for 2002 to £800m, from the previously announced £700m, a 39% increase on 2001.

Amlin said it expected conditions in the insurance market in 2002 to become "more favourable than for many years".

Amlin is the latest in a string of insurers and reinsurers to revise their expected losses from the US attacks upwards.

Royal & SunAlliance, Ace, XL Capital and Trenwick are just a few of the companies that have underestimated their exposure.