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.