AM Best has given Lloyd's Syndicate 382, managed by Hardy Underwriting Agencies, an A (excellent) rating, with a stable outlook.
It said the rating reflected the Syndicate's excellent current and prospective underwriting performance and business profile, in addition to the financial strength rating of the entire Lloyd's market.
Partially offsetting factors were the recent rapid capacity expansion and the risks associated with underwriting a new class of business.
AM Best said the rating was based on its specific Syndicate rating criteria.
