Ratings agency Moody's has confirmed the "A2 (Good)" insurance financial strength rating on Amlin Syndicate 2001, after completing a review of the syndicate that began shortly after 11 September 2001.
Moody's said the stability of the syndicate's WTC loss estimate, the quality of its reinsurance programme and its lack of cash flow problems had helped the rating.
It added that the syndicate's diversified book of business, its historical performance and the expectation that it would continue to outperform the market had also contributed.
The outlook on the rating is stable.
Syndicate 2001 had been downgraded by one notch, to "A2 (Good)", in October 2001, over concerns about the adequacy of resources within the Lloyd's central fund and strength of the Lloyd's franchise.
Its WTC loss estimate is currently £480m gross, and £90m net of reinsurance.
Syndicate 2001 is the second largest syndicate in the Lloyd's market. It has capacity and estimated gross premium of around £800m for 2002.
