A.M. Best affirms Lloyd's rating
Fri 15 Jul 2011
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A.M. Best has reaffirmed Lloyd’s financial strength rating of A (Excellent) with a stable outlook.
The affirmation reflects Lloyd’s strong capitalisation with a stable central capital base, close monitoring of syndicate performance, excellent global position in the insurance and reinsurance markets and good financial flexibility.
A.M. Best’s decision comes after Lloyd’s solid 2010 performance turning in a profit of £2.2 billion and after the large catastrophes experienced in the first quarter of the year with the Japanese earthquake and tsunami, the New Zealand earthquake and the Australian floods.
Luke Savage, Lloyd’s Finance Director, said: “We are pleased that A.M. Best has reaffirmed our rating and continues to recognise Lloyd’s strong capitalisation, excellent industry position and robust approach to setting capital. The events of 2011 have been challenging but Lloyd’s approaches them from a position of strength and A.M. Best recognise this in their rating of the market.”
Looking forward, despite the catastrophic events so far in 2011, A.M. Best expects Lloyd’s to achieve a positive result overall in 2011 with the support of prior year surpluses and investment earnings.
This is the seventh year in succession that A.M. Best has maintained its’ A (Excellent) rating of Lloyd’s.
A.M. Best press release (44KB, pdf)
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