A.M. Best Affirms Credit Ratings of Lloyd’s Syndicate 33
The ratings of Syndicate 33 reflect the balance sheet strength of the Lloyd’s market, which
The Lloyd’s market rating is the floor for all syndicate ratings, reflecting the Lloyd’s chain of security and, in particular, the role of the
For the 2018 year of account, the syndicate’s capacity increased to
The recent technical performance of the syndicate has been stronger than that of the overall Lloyd’s market, demonstrated by a five-year weighted average combined ratio of 85% (2013-2017), compared with Lloyd’s five-year weighted average combined ratio of 96%. In 2017, Syndicate 33 recorded a combined ratio of 103% (Lloyd’s: 114%), affected by catastrophe losses in
The business profile of all syndicates is inextricably linked to that of Lloyd’s, which has a strong position in the global general insurance and reinsurance markets. The collective size of the Lloyd’s market allows Syndicate 33 to compete under the Lloyd’s brand with international groups. Syndicate 33 is one of the largest Lloyd’s syndicates, based on 2017 gross written premiums. It writes a diversified portfolio by geography and line of business comprising reinsurance, property, aerospace, specialty and casualty business.
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and
Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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