Insurers are continuing to set up Lloyd's vehicles to take advantage of good market conditions in a period of unprecedented mid-year growth for the market.
Lloyd's estimated that market capacity would rise to £12.9bn by the end of this year, and may rise to as much as £14bn next year.
A spokesman said the market had never seen this type of mid-year growth before, and attributed the change to capital being supplied by corporate syndicates that could raise money at any time.
Heritage Underwriting Agency has set up a new syndicate with former Faraday commercial lines underwriting director Les Rock at its helm.
Syndicate 1200 will focus on property facultative insurance and will write several other specialist lines, including fine art and specie, transportation and mortgage impairment.
It will have a capacity of £33.7m for the rest of this year. Heritage estimates this will be increased to £80m for 2003.
Meanwhile, commercial insurance provider Fusion has set up a London Market property facility called XP Underwriting with Lloyd's capacity. The facility has been set up in response to broker demand for extra capacity in property business.
Despite the trend of insurers increasing capacity at Lloyd's, its largest syndicate has said it will reduce capacity. Ace announced provisional plans to reduce its capacity from £900m to £652m in 2003.
The Lloyd's members capacity auctions will start on 17 September, with plans for others on 1 and 10 October.