Fitch Ratings Confirms Lloyd's Rating

Fitch Ratings has confirmed the financial strength rating of "AA-" (very strong) assigned to the Lloyd's of London. The outlook has been upgraded from negative to stable.

The rating agency has justified its decision by the adequate capitalization of Lloyd's members at the end of June 2020. For Fitch Ratings, the reinsurer is well positioned to face the losses caused by Covid, estimated at 3 billion GBP (3.6 billion USD).

The rating also reflects the performance improvement achieved by the reinsurer outside Covid-19.