Lloyd's managing agent Ascot Underwriting, which owns AIG-backed Syndicate 1414, has received Lloyd's consent to increase its underwriting capacity for 2002 by 66% to £78.5m.
Ascot managing director Martin Reith said the increase was part of Ascot's growth strategy. He said: "We planned from the outset to raise our capacity at least once during 2002."
"We have a well-regarded team of underwriters backed by an extremely strong and knowledgeable capital provider. As a result, Ascot enjoys considerable support in Lloyd's. Further growth this year cannot be ruled out so long as the flow of high quality business continues."
Ascot commenced business on 1 November 2001 with a £20m underwriting capacity for 2001 and £117.5m for 2002. The current consent allows capacity for 2002 to be raised to £196m.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
