Beazley has said it has reduced its profit forecast for 2005 by a further £40m due to losses from the recent US hurricanes.
The cut is in addition to the £20m reduction announced by the group on 7 September.
The company also raised its estimated loss from Hurricane Katrina to $100m from the previously forecast $50m.
The initial loss estimates in respect of Hurricanes Rita and Wilma are $15m for each, Beazley said.
The insurer said it has raised its premium capacity for 2006 to £830m from £742m and the group's participation will rise to 78% from 70%.
