S&P affirms Lloyd’s A+ rating and revises outlook to stable
Standard & Poor’s (S&P), the rating agency, has today affirmed Lloyd’s financial strength rating of A+ and revised its outlook from negative to stable.
Lloyd’s CFO, Burkhard Keese, said:
“This is great news and the decision was based on several positive factors. Most notably, the strengthening of Lloyd’s capital position was recognised by S&P as significantly higher than their AA confidence level. Lloyd’s recent focus on underwriting discipline was also highlighted, giving S&P the confidence that the Lloyd’s market will return to profitability within the next three years.”
Further details can be found here.