Lloyd's Capacity At $31 Billion

Lloyd's will increase its underwriting capacity to more than $31 billion in 2007, the market announced yesterday.

The figure represents a 9 percent increase over the 2006 opening capacity of $29.1 billion.

By allocating capital support to each syndicate each year, the members govern the amount of business that each syndicate can underwrite each year, Lloyd's said.

Lloyd's capital base remains diverse with no single capital provider providing more than 7 percent of the total capacity, the market said.