S&P turns stable on Lloyd’s
Saturday, 06 15 2019, Category: Rating, Country: United Kingdom
S&P Global Ratings has revised the outlook on its ratings for Lloyd’s of London from negative to stable, citing improved underwriting performance driven by the efforts of the new leadership team.
The revision applies to Lloyd’s, the Society of Lloyd’s, and its core subsidiaries, and S&P has also affirmed its issuer credit and financial strength ratings on these entities at ‘A+’.
Analysts believe that Lloyd’s has taken convincing steps towards dealing with issues in its underlying performance after taking actions to target the worst performing 10% of business in the marketplace.