Standard & Poor's has revised Lloyd's Outcome from stable to positive.
The rating agency comments "Our view of Lloyd's competitive position has improved relative to its peers, and the Market has continued to make progress toward implementing its internal model for use in the capital setting process despite delays in Solvency II implementation in Europe.
The Market's 2011 results were broadly in line with our expectations in spite of record losses in the year, and stronger than global peers.
We are affirming our 'A+' long-term insurer financial strength ratings on Lloyd's, and our 'A+' counterparty credit ratings on The Society of Lloyd's.
We are revising the outlook to positive from stable, which means that we could raise the ratings if Lloyd's continues to outperform, retains its capital base, and successfully implements its internal model from 2013."
Meanwhuile, a new report on the Lloyd’s insurance market published by Guy Carpenter finds that Lloyd’s is looking to improve its global competitiveness despite mounting challenges including low investment returns, record catastrophe losses, subdued economic growth in developed markets, and uncertainty over the future of the Eurozone." Lloyd's: A Vision for Targeted Growth", available at www.GCCapitalIdeas.com, provides an analysis of Lloyd’s operational performance, growth within the sector and explores how changes to the Market’s strategy will impact key players within the insurance industry.
The report details how emerging market expansion, coupled with consolidation of its presence in established markets, will be the key driver in positioning Lloyd’s to remain the industry’s pre-eminent global hub for specialist insurance and reinsurance. This long-term strategy, coined “Vision 2025,” will seek to further diversify Lloyd’s capital base and provide new growth opportunities amidst uncertain market conditions.
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