Ratings agent Fitch Ratings has released a new report on Lloyd’s. The agency maintains its Insurer Financial Strength Rating at A+ and assigns a positive outlook. The agency says that is expects “Lloyd’s future cross cycle underwriting to be more favourable than historically, due in part by the work undertaken by the Performance Management Directorate. The agency has increased confidence that prior year underwriting will develop favourable on aggregate across the rating horizon. Fitch forecasts a sub-95% calendar year combined ratio for 2013, subject to normal catastrophe experience.

The full report can be found here