GOSHAWK RE CAPITAL AND SURPLUS BOOSTED TO $200M

London market insurance and reinsurance group Goshawk has upped the capital and surplus of its Bermudian reinsurance subsidiary, Goshawk Reinsurance, to more than $200m. The group was able to secure the increase because of its retained earnings for 2002 and by using the proceeds of a $40m loan facility agreed in December with Barclays Bank. Goshawk used all the proceeds of the facility to increase the capital of Goshawk Re. The reinsurance subsidiary started operations in January last year after the parent raised £101.3m. It wrote premium income of £36.4m in the first half of 2002.