Rating agency voices concern over Lloyd's transparency
The level of disclosure prescribed under Lloyd's much-maligned previous accounting and reporting regime is considered superior to that mandated under the Companies Act and generally accepted accounting principles, according to Standard and Poor's. These were adopted by syndicates for the first time in 2005.
"We are concerned by the reduced consistency and transparency of the information now available in the public domain to appraise syndicates, and urge additional voluntary disclosures in a number of key
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