Beazley Furlonge is looking to increase its capacity by at least £100m for 2003.
Senior industry figures said the managing agency is in talks to set up another Lloyd's syndicate next year "to take advantage of market conditions". The venture will be backed by Bermudian capital. Beazley already manages non-marine Syndicate 623.
Market sources added Beazley is also considering taking on more quota share reinsurance treaties in 2003. This year it increased its capacity from £325m to £400m through an arrangement with Munich Re.
Deputy underwriter Nicholas Furlonge declined to comment on the way Beazley will raise the amount of premium income it can underwrite.
But he said: "In the current market conditions, we are looking at all the avenues of increasing our underwriting capital by 2003."
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
