A US utilities-backed Lloyd's syndicate has almost doubled its underwriting team after enticing four energy specialists away from Limit.

The four underwriters who have left Limit's Janson Green syndicate 79, are Paul Dawson, John Chambers, David Croom-Johnson and Richard Palengat.

The defections follows Limit's acquisition by Australian insurer QBE, which was finalised last week. Limit has announced its Janson Green syndicate 79 is to be managed by two active underwriters from QBE: Steven Gargrove and Mark Harrington.

Chris Martin, active underwriter at Associated Electrical & Gas Insurance Services Limited (AEGIS), said the former Limit staff would help it to expand its syndicate at Lloyd's, 1225.

He said: “These four additional staff will help AEGIS to build-up a leading capability in underwriting energy business.”

Paul Dawson becomes syndicate 1225's deputy repsonsible for its energy account and John Chambers is in charge of developing its new non-marine property account.

Martin added that the syndicate, which was established at Lloyd's only last year by a group of US electricity producers, plans to set up its own managing agency next year.

AEGIS's staff of six underwriters has increased syndicate 1225's capacity from £20m in 1999 to £35m this year.