XL Capital yesterday announced the realigning of its Lloyd's of London operation, XL Brockbank Limited

A company spokesman said the move was part of XL's drive to own 100 percent of its capacity at Lloyd's.

As of January 1, XL will supply the total capacity, in support of two XL Brockbank's Syndicates at Lloyd's. These are Syndicate 1209, with capacity of ?360 million, and Syndicate 990, with capacity of ?80 million.

Syndicates 588 and 861, which have been managed by XL Brockbank but backed entirely by third-party capital providers for the 2001 fiscal year, will cease to trade.

In 2002, Syndicate 1209 will focus on its core speciality in marine lines (hull, cargo, marine liabilities and energy), specie (vault and premises in transit, cash in transit, fine art and jewellery), bloodstock (race horses), war and political risks, international aviation and selected non-marine lines including professional indemnity and property programmes. Syndicate 990 will continue what XL said was its long-term strategy of maintaining a general non-marine account with emphasis on long-tail business.

The Syndicates will cease to participate in the Excess of Loss treaty, accident and health, and US Fortune 500 property accounts. XL did say however that these lines will continue to be offered through XL's other insurance subsidiaries.