Insurer Advent gets Lloyd's okay for Syndicate 780 plan
* Syndicate 780 agrees deal with Fairfax unit
* Plan based on likely gross premium income of 145 mln stg
* Shares indicated up 3.6 pct (Adds details)
March 27 (Reuters) - Advent Capital (Holdings) Plc ADV.L said on Friday it got approval from the Lloyd's of London [LOL.UL] for the revised business plans of its Syndicate 780 following completion of a review. "The plan will be based upon a projected gross premium income, net of brokerage, of 145 million pounds ($209.4 million) (at $1.50) compared to the original business plan target of 124.8 million pounds," the Lloyd's insurer said in a statement.
Advent Syndicate 780 agreed on a quota share arrangement with Fairfax Financial Holdings Ltd's reinsurance subsidiary in respect of 40 percent of the property reinsurance lines of business for the 2009 underwriting year of account, it said.
The property reinsurance lines represent 60 percent of the planned gross premium of Syndicate 780, Advent Capital added.
Advent Capital shares were indicated 3.6 percent higher at 142.5 pence at 0840 GMT. ($1=.6923 Pound) (Reporting by Kumar Alagappan in Bangalore; Editing by Tresa Sherin)
