Lloyd's largest members' agent, Hampden Agencies, has predicted more positive prospects for private investors in Lloyd's in spite of the recent hurricanes.
The agent said the immediate effect of the hurricanes has been a sharp rise in insurance premiums.
“In view of this, private investors have committed more capital, not less, to underwriting syndicates for the coming year. Furthermore, this year's auctions saw a historically low number of Names exiting the market together with increasing interest from a significant number of new investors,” it said.
Hampden chief executive Nigel Hanbury said: "We are still confident that our clients will receive a worthwhile profit when the year of account 2005 closes, due to excellent syndicate selection over a broad range of business, much of which is not exposed to catastrophe."
