ATRIUM AND HARDY ACQUIRE MORE SYNDICATE CAPACITY

Lloyd’s insurers Atrium and Hardy have increased their capacity for 2005 following the third capacity auction of the 2004 Lloyd’s auction season. Atrium paid £200,000 for a further £2.6m of capacity on its two managed syndicates 570 and 609. Atrium now owns 24% of the capacity for Syndicate 570 and 25% from Syndicate 609, up from 17% and 16% respectively this year. Atrium has also received £1.9m in revenue through the sale of £21.9m in capacity on syndicates that it does not manage. Hardy said that it paid £515,570 for £3.45m in capacity for the 2005 year of account at its managed syndicate 382, bringing its ownership to 91.24% from 87.79% in 2004.