Two Lloyd's insurers confirmed their World Trade Centre loss estimates and one even dropped its figure this week.

But one chief executive admitted the news would not be enough to significantly boost share prices in the sector.

Elsewhere, Lloyd's operators reported a range of losses for the 1999 accounting year and forecast further disappointing results for 2000.

Under the Lloyd's system, accounts are left open for three years.

Stocks in the beleaguered sector have suffered as jittery investors fear revelations of huge losses.

So it came as welcome news when Hardy Underwriting cut its reserve for 11 September losses.

It had previously estimated its losses at 2.8% of capacity, or about £50m.

Chief executive Barbara Merry said it had made a "small reduction". However, she refused to reveal figures.

The announcement came after Chaucer Holdings, which runs motor Syndicate 587, marine Syndicate 1084 and non-marine Syndicate 1096, confirmed its estimate of 20 September at between £8m and £12m.

SVB Holdings said its projected net loss of £30m was largely unchanged.

Merry told Insurance Times that, overall, results from Lloyd's would be "dismal" for last year.

Even the cumulative effect of the three announcements would not be enough to inspire significant stock market confidence in Lloyd's.

"We remain concerned that we aren't really large enough to have an impact on the overall market position," she said.

"I imagine the overall position won't improve the market's position terribly much - 2001 will be a bit of a dismal year.

"We would like to think we could distinguish ourselves enough with our results and performance and we could give the stock market confidence, but pretty much all of the Lloyd's stocks are relatively illiquid."

Goshawk will post a pre-tax loss of £7.5m in last year's accounts, it warned.

The Lloyd's insurer increased its WTC estimate to £11m up from an original estimate of £8.2m net.

The company has put aside an extra £6m for losses from engineering projects and aviation risks.

It also set aside £1m against reinsurance failures. Altogether, its increased provisions total £11.5m.

Goshawk also revealed losses at its Syndicate 102 and a profit at Syndicate 2021, which has now been merged into Syndicate 102.