Hiscox has increased its expected net loss from Hurricane Katrina $110m, up from an original estimate of $100m.
The group predicted that it will lose a further $70m as a result of Hurricane Rita.
It said the hurricane losses will cut its pr-etax profits for the full year by about £25m.
But Hiscox said it planned to raise the 2006 premium limit for its main Lloyd's syndicate to $833m from an original limit of $775m, in order to take advantage of an anticipated rise in rates.
