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LONDONLondon-based Hardy Underwriting Group P.L.C. has received approval from Lloyd's of London to establish a new syndicate 3820.
The syndicate will begin underwriting on January 1, 2007, and will write property risks on a direct, facultative and reinsurance basis. The new syndicate will have capacity of £65 million ($122 million) for the 2007 underwriting year.
Hardy also operates composite syndicate 382.For 2007, Hardy's underwriting capacity will increase by 75% to £175 million, it said.