AM Best has raised the financial strength rating of Lloyd’s to A+ (superior) from A (excellent) and the long-term issuer credit rating to AA- (superior) from A+ (excellent).
In July last year the ratings agency had upped its outlook to positive from stable for Lloyd’s.
According to the marketplace for insurance and reinsurance, the latest upgrade reflects its balance sheet strength – which AM Best assesses as ‘very strong’ – as well as its strong operating performance, and risk management expertise.
Fellow ratings experts Standard & Poor’s revised its financial strength rating of Lloyd’s to AA– from A+ in December 2023.
Lloyd’s also has an AA- (very strong) grading
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