Moody's has affirmed an A1 insurance financial strength rating for Lloyd's Syndicate 2020, managed by Wellington Underwriting Agencies. The rating has a stable outlook.
It said the rating action followed the completion of its annual review of the syndicate.
Moody's said the rating reflected Syndicate 2020's leading position within the Lloyd's market, its well-diversified book of business and the strong underwriting skills and experience management at Wellington.
The ratings agency also said it expected the syndicate to outperform the market.
Offsetting factors in the ratings decision were the syndicate's significant reinsurance receivables and the potential volatility of its lines, said Moody's.
