AM Best maintains Lloyd's rating
A.M. Best has hinted at greater leniency towards Lloyd's and has opted to maintain its financial strength rating despite potential losses from Hurricane Katrina.The rating agency said in a statement today it expects all rated companies will be able to meet their current loss obligations despite the projected magnitude of the potential insured losses.
However, it said the insured losses from Hurricane Katrina have had a significant impact on some insurers, leaving potential capital shortfalls relative to their current rating level and also callingOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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