AM Best upgrades Lloyd's of London rating

AM Best has upgraded the long-term financial strength and credit ratings of Lloyd's of London.

The former rating has been upgraded from "A" (Excellent) to "A+" (Superior), while the latter has been changed from "a+" (Excellent) to "aa-" (Superior). The outlook is positive.

This decision reflects Lloyd's ability to attract and retain investors, as well as its excellent position as a leading underwriter of global risks (property and liability).

The rating also recognizes the company's strong balance sheet, solid operating performance, favorable business profile and appropriate enterprise risk management.

AM Best expects the insurer to maintain its strong underwriting performance. Lloyd's of London is expected to publish its half-year results on 5 September 2024.