Standard & Poor's ratings services has announced the results of its latest Lloyd's Syndicate Assessment (LSA) review in which it has raised seven and lowered none.

The results reflect the positive trends in evidence during 2004.

In addition, Standard & Poor's has assigned three new LSAs
and withdrawn one. LSA coverage of the Lloyd's Market (Lloyd's; A/Stable) now stands at 83% of 2005 capacity.

Positive trends reflected within the LSAs include strong operating performance, reduced reliance upon reinsurance, lower insurance debtor levels, and declining concern over prior-year reserves.

There are still no syndicates that qualify for an LSA of '5', which would indicate a high level of likely continuity. However, eight syndicates are now assessed at '4pi', compared with four when the assessments were first
introduced in September 2002.

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