LLOYD'S SYNDICATES SEEK DOUBLE-DIGIT CAPACITY INCREASES

Lloyd’s syndicates are seeking double-digit capacity increases for the 2020 year of account, with some proposing hikes of more than 50%. Figures compiled by members’ agent Argenta revealed many third-party capital-backed syndicates are proposing significant increase in stamp capacity as they seek to take advantage of an improving rate environment in many lines of business. Hiscox is seeking a 21% increase in the stamp capacity of its flagship syndicate 33 to £1.7bn ($2.07bn) in 2020, while Tokio Marine Kiln has proposed a capacity of £1.3bn for its syndicate 510, an increase of 15% on the syndicate’s capacity this year. Atrium has proposed a 16% increase to £525m for syndicate 609 and Beazley is seeking a 13% hike to a stamp capacity of £414m for its syndicate 623.