Third-party capital is central to Lloyd's future success, claimed Nigel Hanbury, chief executive of private investor's funds management company Hampden Agencies.
Hanbury said: "The supply of third-party capital is considerably more beneficial to Lloyd's than is generally recognised.
"Third-party capital diversifies Lloyd's capital base, strengthens the Central Fund and makes less claims on it than others, and it acts independently at times of crisis such as when the World Trade Centre was destroyed."
He added: "Third-party capital is a vital backer of syndicate start-ups and it does so without demanding management control."
The company said it estimated that 25% of Lloyd's overall capacity was supplied on a third-party basis.
