Lloyd's has said that demand to put new capital into the market is triggering one of the market's most significant periods of mid-year growth.
Lloyd's director of worldwide markets Julian James told an audience of insurers and brokers that as the insurance market is "at its most attractive for a decade" Lloyd's syndicates are rapidly raising capital to take advantage of conditions.
The market's capacity has risen from £12.2bn at the start of the year to a mid-year high of £12.5bn.
Also, £428m of Qualifying Quota Share arrangements have been approved, with £500m more awaiting approval.
James said: "As stock markets around the world take a beating, insurance premiums are rising and are expected to provide positive returns for several years to come. This demonstrates the contra-cyclical nature of insurance markets like Lloyd's. But it is not our intention to allow Lloyd's to be flooded with so much capital that a soft market is created. Indeed, we are very aware of this possibility.
"These strong trading conditions combined with our programme of radical but sensible modernisation proposals are creating a modern, transparent and profitable business fit for the future."
James was speaking at the Western States Surplus Lines conference in Canada.
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.
