Quanta has started writing political risk cover from its Dublin office.
Quanta declined to comment on the move, but a Lloyd's broker said the Bermuda-based company had become the latest insurer to enter the political risk market.
Earlier this year, Lloyd's managing agent Hardy announced its entry into the political risk sector, with the appointment of former Faraday political risk underwriter George Doughty. Hardy confirmed last month that it would be offering up to £5m in political risk capacity in 2005.
Political risk forecaster Exclusive Analysis said this week that small amateur attacks on US and UK targets were more likely than al-Qaeda attacks on prominent targets.
But it warned that an attack on a US or UK target was likely to happen within a year.
Exclusive Analysis said a threat was posed from "aspiring militants who are in the early stages of terrorist planning and who look to remnants of al-Qaeda in Pakistan for guidance".
