A.M. Best Co. affirmed the financial strength rating of “A-” of the Lloyd’s market with a stable outlook. Lloyd’s has a financial size category of XV.
Lloyd’s excellent business profile, excellent capitalization and high standards of regulation influence the affirmation. Offsetting factors are the market’s weak financial performance; uncertainty caused by the sheer magnitude of losses Lloyd’s faces; certain issues arising from its Chairman’s Strategy Group proposals, and long-term uncertainty over the ultimate adequacy of Equitas’ reserves.
Lloyd’s benefits from its high-profile global brand and network of licenses and representative offices and has a leadership profile in many specialist classes of business and a strong relationship with its main market, the U.S. A.M. Best expects current market conditions to be particularly advantageous for Lloyd’s, because it has a strong profile in many of the lines of business that now are experiencing the most marked improvements in premium rates.
To submit information for this department, e-mail: sjones@insurancejournal.com.
Topics Trends Excess Surplus Lloyd's
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