Moody's Investors Service has downgraded KGM Underwriting Agencies' Syndicate 260. It lowered its Syndicate Performance Rating from B (average) to B- (below average).
The rating agency said that despite the syndicate performing "reasonably" it had downgraded its rating "due to uncertainty over future capital support and the potential for this to affect future returns".
It explained that concerns over capital stem from the fact that 90% of the syndicate's backing is from members' agents and there is the "likelihood that a significant number fo Names will leave the Lloyd's market in the short to medium term".
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
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.
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.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
