Hiscox is to increase its proposed capacity for the 2005 year of account for Syndicate 33 by £50m.
On 18 August, the Lloyd's insurer announced a proposed capacity of £725m for 2005, but this has now been increased to £775m.
Hiscox said market conditions had changed following the recent hurricanes in the Atlantic region.
"Hiscox anticipates that these losses and other recent events in the global insurance business should have a positive effect on the rating environment.
"As a result, Hiscox is increasing its capacity from the amount previously advised in order to be in a position to take advantage of any market opportunities that arise."
But the figure is still down on the 2004 capacity of £847m. Hiscox said the decrease was largely due to the weakness of the US dollar, as approximately 70% of the syndicate's business is written in US dollars.
This revised capacity, which is 71% owned by Hiscox, is subject to approval by the Lloyd's franchise performance directorate.
Hiscox chief executive Bronek Masojada said: "This slight increase to our forecast capacity gives us the flexibility to target any opportunities that emerge. Our focus remains on profitable growth through disciplined underwriting."
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