Wren Syndicates Management has been given approval by Lloyd's Regulatory Board to merge its four non-life syndicates.

The Lloyd's managing agency will also change its name to BRIT Syndicates and its new composite syndicate 2987 has obtained regulatory approval to increase stamp capacity to £450m in January 2001.

A spokesman said: “Whether we shall underwrite to this level will need to be reviewed in the light of recent events.”