Underlining its emphasis on market discipline, Lloyd's has announced a 2005 opening capacity of £13.7bn, down 9% from £15bn.

The largest share of capital, at 37%, will come from UK listed companies, up from 30%, Lloyd's said.

In a statement Lloyd's said trade capital providers would account for 35% share of capital, down from 40%. Names carrying unlimited liability will provide 10%, down from 12%, it said.

Unchanged will be the contributions from individual members with limited liability, at 7% of capacity; UK nonlisted companies, at 8%; and other corporate sources, at 3%.

Amlin, with capacity of £850m, will be the leading capital provider, accounting for a 6.2% share of the total.

Limit will be the largest managing agent, with a 2005 capacity of £975m under management.

Lloyd's said the 62 syndicates trading in the market this year would have an average capacity of £221m.

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