Hiscox has increased its expected net loss from Hurricane Katrina $110m, up from an original estimate of $100m.

The group predicted that it will lose a further $70m as a result of Hurricane Rita.

It said the hurricane losses will cut its pr-etax profits for the full year by about £25m.

But Hiscox said it planned to raise the 2006 premium limit for its main Lloyd's syndicate to $833m from an original limit of $775m, in order to take advantage of an anticipated rise in rates.

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