Lloyd's managing agent Limit is set to reduce its employers' liability (EL), product liability (PL) and professional indemnity (PI) capacity by around £180m next year.
It is understood that Limit is proposing to reduce the capacity of Syndicate 386 by 15% in 2005, subject to Lloyd's franchise board approval.
The plan would see the capacity of Syndicate 386 falling from £1.2bn to just over £1bn.
Limit declined to comment on the proposals.
The insurer upped its UK PI capacity by £12m this year. Limit is expecting to write £92m of UK PI business this year, representing a 15% increase on the 2003 total of £80m.
