A.M. Best Comments that the Ratings of Lloyd's of London Remain Unchanged Following Announcement of Profit.OLDWICK, N.J. -- A.M. Best Co. has commented that all ratings 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 and the Society of Lloyd's remain unchanged following today's announcement of an annually accounted profit of 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. 1,357 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. 2,614 million). The profit falls at the upper end of the range anticipated by A.M. Best, taking into account net catastrophe losses of approximately GBP 1,200 million (USD 2,312 million) largely incurred in the second half of 2004 and the impact of the recent settlement with Central Fund insurers, which reduced the profit by GBP 323 million (USD 622 million) before tax. For 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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