Wellington Underwriting, the independent Lloyd's insurance company, has retained its broker Hoare Govett to raise funds for the second time this year.

The insurance syndicate previously raised £70.4m (€110m) in August. Hoare Govett led the previous offer and in the current sale is acting as sponsor and financial adviser to Wellington. The UK broking arm of ABN Amro, is underwriting all of the offer, other than the shares being taken up by Swiss Re.