New York-based property and casualty insurer Tower Group is adding more than $325 million of new 2013 premium to Lloyd’s of London.The firm along with its strategic partner, Canopius, is launching a special purpose syndicate (SPS) at Lloyd’s with $113 million of capacity.Tower, which is in the process of merging with Canopius Holdings Bermuda Ltd, said its increased capital deployment for the London insurance market’s 2013 underwriting year represents “a significant step in Tower’s strategy to develop its presence in the Lloyd’s market”.The new premium will be deployed via Lloyd’s Syndicate 6115, a non-marine short-tail orientated SPS Canopius set up which underwrites a whole account and additional class quota shares of Canopius Syndicate 4444. It will commence trading in January 2013 with initial capacity of $113 million, which is 100 percent supported by Tower.The SPS represents the biggest portion of the $325 million of capacity that Tower is providing to the Lloyd’s market.Tower will also provide $126 million of support to other Lloyd’s syndicates for the 2013 year. These will be predominantly supported through a spread corporate member, Tower Corporate Capital 1 Ltd, which has been established with the assistance of Argenta Private Capital Limited (“Argenta”), specialist insurance investment advisers, who will provide administration services in respect of the majority of Tower’s ongoing non-Canopius participations.