Turmoil continues at The Underwriter as its new chief executive, Nigel Rogers said that everything was under review.

Rogers said that after the departure of former chief executive Keith Rutter last week, he is reviewing all of the company's business plans.

He said: "We have reviewed The Underwriter's business plan going forward given the recent changes. I am very confident we will be announcing a healthy profit for 2003.

"I will do whatever it takes to make this business profitable and if that means severing some relationships, so be it," he said.

Market rumours that The Underwriter was looking at withdrawing its underwriting authorities from brokers and at axing some of its agencies have been confirmed by a company insider.

Only five brokers - Marsh, Aon, Willis, Jardine Lloyd Thompson (JLT) and Senior Wright - have agencies with The Underwriter.

A spokeswoman for JLT said that the company "continues to trade as normal with The Underwriter", while Marsh and Senior Wright declined to comment .