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LONDONHiscox P.L.C. is to increase the capacity of its Lloyd's of London syndicate 33 by 5% to £875 million ($1.67 billion) next year.
The London-based insurance company said in a statement that the planned increase will enable syndicate 33 to take advantage of additional underwriting opportunities as they arise.
According to the company's 2007 business forecast, syndicate 33 is expected to source 49% of its business from North America, 4.4% from the United Kingdom and 5.9% from the rest of Western Europe.