A.M. Best Comments on Ratings of Lloyd's of London Following Its Settlement With Central Fund Insurers.OLDWICK, N.J. -- A.M. Best Co. has commented that the financial strength rating of A (Excellent) and issuer credit rating of "a" of Lloyd's of London Not to be confused with Lloyds Bank or Lloyd's Register. Lloyd's of London is a British insurance market. It serves as a meeting place where multiple financial backers or “members”, whether individuals (traditionally known as (United Kingdom), together with the "a-" issuer credit rating of the Society of Lloyd's and the "bbb+" debt rating of subordinated notes issued by the Society, all remain unaffected following today's announcement by Lloyd's that a GBP GBP In currencies, this is the abbreviation for the British Pound. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 152 million (USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 293 million) settlement has been reached with the Central Fund insurers. Lloyd's ratings already factor the possible impact of avoidance of the contract by insurers as a worst case scenario
Worst Case Scenario is a reality show aired on TBS in 2002 in the U.S.. . (See related press release dated January 25, 2005.) As such, the GBP 152 million settlement falls within the range of possible outcomes anticipated by A.M. Best. For Best's Debt Ratings, all other Best's Ratings Best's rating A rating A.M. Best Co. assigns to insurance companies based on the company's ability to meet its obligations to its policyholders. , an overview of the rating process and rating methodologies, please visit http://www.ambest.com/ratings. A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at http://www.ambest.com. |
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