Lloyd's of London is examining measures, including easing capital requirements, which could help corporate and individual members suffering from losses due to the September 11th attacks.

The insurance market said yesterday it was reviewing whether to change the level of "risk-based capital" which it requires corporate capital and Names, the wealthy individuals who underwrite risk, to lodge at Lloyd's.

Currently all members must deposit an amount equivalent to 40 per cent of the total business they will be underwriting for that year. This amount drops to 35 per cent for those underwriting on motor syndicates.

Mr Andrew Moss, Lloyd's finance director, told a conference hosted by the Association of Lloyd's Members yesterday that the insurance market had employed consultants Oliver Wyman to review risk-based capital requirements.

It was also looking at whether members might be able to realise 2002 profits earlier instead of waiting three years under the current system. He said: "We will have to be careful about this but we are not ruling out this entirely."

A decision will be made by the end of July and take effect in 2003.

Mr Sax Riley, chairman of Lloyd's, also confirmed at the conference that plans to buy individual Names out of the underwriting syndicates had been dropped.

However, he stressed that Lloyd's needed to modernise.