Lloyd's said it welcomed Standard & Poor's (S&P) affirmation of it's a financial strength rating.
Lloyd's commercial director Roger Sellek said: “We are pleased that S&P has affirmed Lloyd's financial strength rating at A (strong), and highlighted our strong competitive position, the commitment of our capital providers, the implementation of the franchise structure and initiatives and the quality of Lloyd's brand.
“We are particularly pleased that S&P's outlook for Lloyd's is “stable”. This is a vote of confidence in this market, at a time when they have a “negative” outlook on the global reinsurance industry as a whole.
“Lloyd's rating has remained constant since the end of 2001. Given that S&P have downgraded many insurers and re-insurers during that time this means Lloyd's relative position against the rest of the industry has strengthened.
“The Lloyd's franchise board is committed to strengthening Lloyd's financial performance and its central security even further.”
