Lloyd's received a boost this week after Standard & Poor's upgraded its financial streng-th rating to 'A+' from 'A'.
Ratings agency Standard & Poor's (S&P) said the move was due to "unstoppable momentum behind improving London market business processes" and the successful completion of phase 1 of the Equitas transaction.
Standard & Poor's is the third major ratings agency to have adjusted Lloyd's financial rating based on news of the Equitas transaction.
Last month, Fitch and AM Best both upped Lloyd's financial strength rating by one point.
Lloyd's chief executive Richard Ward said: "S&P's decision to upgrade the market to 'A+' is another significant achievement for Lloyd's.
"It recognises the progress that Lloyd's has made over the past six years, particularly in the areas of financial strength and security, and business process reform."
Standard & Poor's credit analyst Rob Jones said: "The upgrade reflects the recent successful conclusion of phase 1 of the Equitas group's transaction with National Indemnity, progress with regard to phase 2, and the unstoppable momentum behind improving London market business processes."
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