Standard & Poor's (S&P) has affirmed the Lloyd's insurance market's A insurer financial strength rating, and removed it from CreditWatch.

The rating has been under review since 20 September 2001.

S&P director Stephen Searby said: "The rating actions reflect the continuing commitment of capital providers to the Market and the consequent increase in Lloyd's capacity to write business.

"Although S&P has removed its rating on Lloyd's from CreditWatch, the key isues remain the intentions of capital providers and the adequacy of the Central Fund," he added.