Lloyd's capacity to exceed £14bn in 2003

Lloyd's market capacity will exceed £14bn in 2003, according to rating agency Fitch Ratings.

It estimates that capacity will increase by 10-20% in 2003.

Fitch also said that the market is now showing signs of stabilising after the events of September 11, and that it expects a return to profitability in 2002.

This stabilisation has been helped by the additional capacity that has been flowing into the market through public share offerings and qualifying quota share arrangements.