'Capacity will depend on cycle' says Lloyd's Tolle

Insurance Times - 'Capacity will depend on cycle' says Lloyd's Tolle: "Franchise director Rolf Tolle outlines capacity prospects for 2009

Changes to capacity at Lloyd’s will largely depend on how much the market hardens, performance franchiser director Rolph Tolle said.

Tolle said the Lloyd's market would not be announcing it's capacity changes, as it was a 'hypothetical figure'.

Tolle, speaking to a large audience in the Lloyd’s Old Library, said: “Ultimately, we all have to determine the overall capacity that is appropriate for where we are in the cycle. This is our conundrum.

“So far we are winning the game, but it is a while before we can truly pat ourselves on the back and call ourselves winners.”

In 2007 capacity was £16.1bn, but then dropped slightly for 2008 to £15.9bn."