Moody's has placed Beazley Furlong Limited's Syndicates 623 and 2623 under review for possible upgrade.
It said the review was initiated because of the continued above average performance of the syndicates, coupled with the declaration of a profit of 0.6% for the 2001 account.
Both syndicates currently have a B+ (above average) rating.
The rating review will focus on whether Moody's believes that the syndicate has the potential to reach the cross-cycle returns associated with an A- rated syndicate, the controls in place for the management of future downturn, and the potential for consolidation within the Lloyd's listed vehicles.
Beazley Furlong syndicates 623 and 2623 are non-marine orientated syndicates whose managing agency is wholly owned by the listed Beazley Group.
