Insight and Intelligence on the London & International Insurance Markets 22 Oct 2017

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S&P revises Lloyd’s outlook to negative on cat losses

  • Charlie Thomas 12 October 2017
  • S&P Global Ratings has affirmed Lloyd's A+ financial strength rating, but revised its outlook for the market from stable to negative following the trio of hurricanes in the just-ended quarter.

    Lloyd's has already announced an estimated net loss of £3.3bn ($4.3bn) from hurricanes Harvey and Irma. In changing its outlook, S&P said today that it expected further major losses from Hurricane Maria and other potential catastrophes in the current quarter.

    "These losses are significant relative to peers and Lloyd's annual...

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