Over the last few months the 314-year-old insurance market has been scrutinised by US investigators and has faced interrogation over its reserves and World Trade Centre reinsurance arrangements.

The national press reported negatively on Lloyd's when syndicates made cash calls and its solvency became the subject of speculation.

But now the Easter period is over, the doom and gloom of the past few months is subsiding.

For once, the news is good - Lloyd's has now successfully completed the transfer of more than $5bn (£3.5bn) to its US trust funds to meet regulatory requirements relating to insurance claims arising from 11 September.

In February, Insurance Times revealed that the US National Association of Insurance Commissioners (NAIC) had concluded Lloyd's has sufficient funds to pay for its World Trade Centre losses.

The US regulators had been examining whether Lloyd's could claim from its reinsurers.

As we roll into British Summer Time, the market's future looks bright. Chairman Sax Riley has even brought the tinkle of a different bell to Lloyd's with his recent marriage.

But there are trying times ahead as syndicates begin to publish their quarterly results.

Early indications are that the news isn't great.

And this week the Names' appeal hearing of the Jaffray Case for the Reconstruction & Renewal settlement is also coming to a close. Let's hope, like Riley, we can all hold on to that honeymoon feeling.

Lloyd's completes £3.5bn US transfer

Lloyd's has completed its transfer of more than $5bn (£3.5bn) to its two major US trust funds.

The money was raised by syndicates' cash calls to pay for World Trade Centre claims. The first tranche of the transfer took place in November 2001 when more than $2bn (£1.4bn) was moved.

A Lloyd's statement said: "A substantial element of the transfer was necessary to meet US regulatory requirements relating to insurance claims arising from 11 September, in respect of both direct business and US-ceded reinsurance business."

It said, to date, Lloyd's had received over 3,200 claims related to the World Trade Centre tragedy and is continuing to pay claims.