Lloyd's syndicate, DA Constable Syndicate 386, which specialises in liability and professional indemnity insurance, has been awarded a 5 rating by Standard & Poor's. The outlook on the syndicate is stable.
It is the first and only Lloyd's syndicate to receive this accolade.
Standard & Poor's said the assessment reflects the syndicate's exceptionally strong earnings track record and its very strong competitive position as the leading specialist liability syndicate at Lloyd's.
S&P's added that the rating is the result of the strength of the support provided to Syndicate 386 as a member of the strategically aligned, Australia-based QBE Insurance.
However, S&P's said the reserving risk posed by the syndicate's long-tail focus represents a weakness for the assessment at its current level.
