The unidentifiable lettering above the name I conjecture to be "Ins.", with its end immediately on top of the initial "L". I cannot follow ItMiller 603 in taking this lettering to be "hice", the end of the name "Zephice" for an island shown by Welser (1598; see Plate 4) and no longer discernible.
Not least because there is no knowing the number of letters missing from the middle of the name, other restorations remain possible. If there are only two missing letters, however, wider ones would best fit the space.