Private investors providing underwriting capital to Lloyd's insurance syndicates have boosted capacity by approximately £175m through Hampden Agencies over the last twelve months, the agency announced today.
The most recent capacity auction, which closed yesterday, saw Hampden take its total estimated underwriting capacity for 2007 to nearly £2bn, over 12% of Lloyd's estimated capacity for 2007 of £16bn.
Limited Liability Partnerships, introduced for next year, have proved popular with investors. Hampden Agencies reported over 200 new LLPs comprising 240 members on its books for 2007. Hampden also registered five new Namecos (limited liability companies) for next year.
Nigel Hanbury, Hampden CEO, said: "We are extremely happy with the increase in both investors and levels of investment in Lloyd's. It reflects a return in investor confidence. Many private investors have begun to see that Lloyd's is a unique alternative asset class that has been out-performing many hedge funds and private equity funds. Lloyd's is making a well-justified comeback in wealthy families' portfolios. The case for private investment at Lloyd's… is compelling."
