In the first of its quarterly reports on Lloyd's members and syndicates, Standard & Poor's (S&P) said it has revised its Lloyd's Syndicate Assessments (LSAs) on four syndicates, and assigned one new LSA.
S&P said of the 62 syndicates trading in Lloyd's in 2005, compared with 66 syndicates in 2004.
Standard & Poor's credit analyst Matthew Day said: "Of the 2004 peer group, 58 have continued trading into 2005, eight have ceased trading, and four new syndicates have been formed.
“In total, LSAs have been assigned to 44 of the 62 syndicates trading in 2005."
Capacity concentration is also on the rise, Day said. The largest 20 syndicates account for 79% of capacity, up from 77% in 2004.
"For the same period, average 2005 syndicate capacity has decreased marginally by 2% to £221m, from a high of £227m 2004," he concluded