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Chuks Udo Okonta
AM Best has upgraded the Financial Strength Rating (FSR) to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to “aa-” (Superior) from “a+” (Excellent) of Lloyd’s (United Kingdom).
The ratings reflect Lloyd’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, very favourable business profile and appropriate enterprise risk management.
The upgrading of the ratings reflects the Lloyd’s market’s (the market) excellent position in the global general insurance and reinsurance markets as a leading writer of specialty property/casualty risks, together with its strengthened balance sheet fundamentals and proven risk management capabilities. The growing size of the market demonstrates its ability to attract and retain investors due to its unique business proposition that offers a capital efficient structure and the ability to write business globally.
For a full copy of the press release, please click the following link:
AM Best Ratings: Lloyd’s, Its Rated Subsidiaries and Society of Lloyd’s
