AM Best has assigned a Syndicate Rating of A (Excellent) and an issuer credit rating of “a” to Lloyd's Syndicate 2020, managed by Wellington Underwriting Agencies.
AM Best said the outlook for both ratings is stable.
The ratings agency said the ratings reflect support provided by the financial strength of the Lloyd's market and its parent, Wellington Underwriting which may have the capability to raise additional funds if required.
It added that it believes it is likely syndicate 2020 will return to profitability in 2006, in line with its historic norm and assuming the absence of further exceptional catastrophe events.
