Lloyd's managing agency Jago has secured £80m of stamp capacity for Syndicate 205 in 2002 and pledged to maximise profit by focusing on its core specialist areas of underwriting.
Jago Capital and Gulf Insurance Company, a subsidiary of The Travelers Indemnity Company, will be the principle capital providers.
Jago active underwriter Chris Jago said: "We prefer to concentrate on profit rather than income, and to do so we have deliberately restricted our business plan to core business.
"Despite the uncertainty in the market place we have multi-year capacity commitments from our principal capacity providers, and the 2002 stamp capacity has been agreed at £80m to ensure efficient use of capital with a margin for opportunity."
