Lloyd's capacity for 2007 has increased by 9% to £16.1bn.
The market's capital base remained diverse, with Catlin representing the largest single provider, at 6.8% of total capacity, or £1.1bn, closely followed by QBE (Limit) at 6.3% and Amlin, at 6.2%.
Lloyd's capacity profile for 2007 highlighted a striking shift from unlimited liability Names (down 24% to £1.1bn) to limited liability individual members (up 40% to £1.4bn).
UK listed providers' market share was up 18.3% to £6.3bn, while trade capital providers' share was up 7.7%, to £5.7bn.
All three ratings agencies affirmed Lloyd's “A” insurer financial strength rating in mid-2006.
Luke Savage, Lloyd's director of finance, risk management and operations, commented on the Standard & Poor's affirmation: “Access to a secure, highly-rated market is one of the key benefits of operating at Lloyd's so S&P's positive sentiment towards Lloyd's is clearly good news.
“It is particularly welcome in light of the testing events of last year and now means that all three of our rating agencies have reaffirmed our ratings, the others being Fitch [A (Strong) Stable Outlook] and AM Best [A (Excellent) Stable Outlook]. S&P's rating decision is a reflection of the current ongoing commitment of capital providers to our market, as well as Lloyd's continuing strong competitive positioning, capitalisation and operating performance.”
