九色

A.M. Best Co. assigned a syndicate rating of “A” with stable outlook to Lloyd’s Syndicate 510, managed by R. J. Kiln & Co. Ltd. The rating reflects the syndicate’s excellent current and prospective operating performance and business position, in addition to the financial strength of the Lloyd’s market鈥攔ated “A-“鈥攚hich underpins the security of all Lloyd’s syndicates. The rating is based on A.M. Best’s specific syndicate criteria.

Offsetting these rating factors is the challenge presented to management from its ambitious growth strategy in 2002 and 2003. Syndicate 510 has a record of strong operating results, although it has produced small losses for the two most recent closed years. According to the syndicate’s latest quarterly report (SQR) to Lloyd’s, profitability is forecast to return for the 2001 year of account (2.5 percent on capacity) despite a sizable net incurred loss from the World Trade Center (GBP 96.7 million gross [$150.8 million], GBP 23.4 million net [$36.5 million]).

Topics Excess Surplus Lloyd's