Lloyd's has pointed out that the capital loadings applied by Lloyd's regulators to PXRe ceased to affect syndicates 2002 and 2004 when they left the managing agency last year.

Syndicate 2004 transferred to Admiral syndicate management and 2002 to Zenith, however the Lloyd's press office was only made aware of the change this week.

Lloyd's stressed it has not lifted the capital loadings imposed on PXRe, however the fact that the managing agency has been placed into run-off means they currently have minimal impact on the company.