Hiscox plc has raised Syndicate 33's capacity, via a qualifying quota share reinsurance arrangement, by £151m to £655m for 2002. It also announced plans to increase capacity to £850m for 2003.
The company said this is the result of trading conditions for the business continuing to be "very strong", with rates doubling in the last year.
The qualifying quota share reinsurance is placed 57% with AA-rated reinsurers and 43% with A-rated reinsurers.
A leading and substantial line has been placed with Chubb Re.
