Effective management of the insurance cycle by Lloyd's syndicates is responsible for the diverging fortunes among them, ratings service Standard & Poor's said.
Lloyd's syndicate assessments (LSAs) have stabilised compared with 2003, said Standard & Poor's, but the movements identify some trends in terms of winners and losers in the marketplace.
The ratings company raised LSAs on five syndicates today, and lowered its LSAs on three. This compares with the upgrade of just two syndicates, and the downgrade of 10, in 2003.
Effective management of the insurance cycle has benefited some syndicates, said Standard & Poor's credit analyst Marcus Rivaldi.
"LSAs have improved in hardened market conditions, with those syndicates that have managed the insurance cycle well reaping the benefits in terms of improved profitability and higher LSAs," said Rivaldi.
