Atrium Underwriting said underwriting in 2004 had made a "very good start" with strong trading conditions, while capacity would fall in 2005.
The managed syndicates' forecasts remain unchanged for 2002 and improved for 2003.
Atrium said the 2003 initial mid-point forecast of 15% confirmed expectations of strong returns from this year, while the mid-point forecast for 2002 was 14%.
It added that recent hurricane losses were expected to be within planning assumptions for the managed syndicates.
