Lloyd's insurer Ascot Underwriting has increased its 2011 underwriting capacity to £650m from £600m.
“Market conditions are changing, providing Ascot with opportunities, particularly in the reinsurance sector," said Ascot chief executive Andrew Brooks in a statement. "We have increased our capacity for the remainder of 2011 to allow us to maximise these opportunities and expand our business where appropriate.”
Reinsurance rates are widely expected to harden in areas that have been hit by natural catastrophes in the first quarter of 2011.
Ascot's Lloyd's syndicate, 1414, is backed by a subsidiary of global insurance group AIG.
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