Bermuda-based GoshawK Reinsurance Limited has increased its capital and surplus to more than $240 million.

GoshawK Re's UK parent, GoshawK Insurance Holdings Plc, said it had funded the expansion by increasing its term loan facility, agreed with Barclays Bank Plc in December 2002, through a syndication of the facility. Credit Lyonnais has provided a further $25 million, bringing the total facility to $65 million. This increase in the loan facility takes gearing in GoshawK to 30.6 percent.