Fitch Ratings has affirmed the 'A minus' insurer financial strength rating of Lloyd's and revealed it expects the market to make a £2bn underwriting profit for 2002.
At the same time, the agency affirmed Lloyd's rating outlook as negative.
Fitch added that it has been monitoring since it placed Lloyd's rating on negative outlook. It added that it is now satisfied that most of its concerns eased throughout 2002. The market has now stabilised as a result of rising capacity to £14.4bn in 2002, it added.
However Fitch maintained that there is a high probability that Lloyd's exposure to the World Trade Centre will increase.
