AM BEST has assigned its first individual Lloyd's syndicate rating to Euclidian's syndicate.
The integrated Lloyd's vehicle's syndicate 1243 has been given an A (excellent) rating, reflecting Lloyd's “strong overall capital structure” and its own “above average expected underwriting performance”.
AM Best announced it would be grading syndicates individually in the 300-year-old market earlier this year.
Traditionally, Lloyd's has been given a rating as a whole, but the new gradings reflect the “specific financial strength characteristics” of each syndicate, with strong groups being assigned an A+ or A++ if their business profile and operating performance is better than the market overall.
Syndicates ask AM Best for the voluntary rating, which takes about four to six weeks to assess.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
