Goshawk in £101m raiser

GOSHAWK Insurance plans to raise £101m - more than it is now worth - as it joins the race to cash in on the sharp recovery in premiums. It will use the money to fund a new Bermuda-based company, Goshawk Reinsurance, which will target marine and aviation business.

The company also plans to lift its capacity in the Lloyd's market next year from £150m to £180m using existing reserves.

The 10-for-seven offer will be pitched at 98p.