Fitch upgrades Lloyd's financial strength rating to 'A'

Fitch Ratings has upgraded the insurer financial strength rating of Lloyd's to ‘A' from ‘A-'. The outlook is stable.

Fitch said: “The rating action reflects Lloyd's improved capitalisation, the market's ability to attract and retain capital, improved risk controls, and recent strong earnings.”

But Fitch added that these positive factors were offset by “uncertainties regarding Equitas and resolution of the Central Fund insurance arbitration”.