The number of syndicates operating in the Lloyd's insurance market has fallen to 86, Lloyd's has said. Last year, there were 108 syndicates.
The decrease follows a number of cessations in the market, such as HIH Cotesworth 535 and 1688, and Newmarket 1900.
There were also several mergers in 2001, such as Markel's decision to form composite Syndicate 3000, from its four existing syndicates.
The insurance market also revealed that the number of managing agents for 2002 has fallen to 49, from 57, while the number of members' agents dipped to five, from seven.
However, the number of Lloyd's brokers has increased to 142, from 126.
This was due mainly to Lloyd's accreditation programme, which allows foreign-based brokers to write business in the market.
Lloyd's has accredited 21 brokers since its programme started in January 2001. Earlier this week, it said it expected to accredit three more brokers during January.
