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SRL Continuity Opinion Changes: Lloyd’s Syndicates (Argo, XL Catlin, CNA Hardy, Meacock, StarStone, Talbot, Travelers)

LONDON--(BUSINESS WIRE)--

Syndicate Research Limited (SRL)

Continuity Opinion Actions April - September 2019:

CNA Hardy syndicate 382
September 3 2019 – B^ (Average) Continuity Opinion of Lloyd’s syndicate 382 (Hardy (Underwriting Agencies) Limited) affirmed. Outlook changed from stable to negative in light of the syndicate’s recent 5-year average performance relative to its Continuity Opinion peer group.

XL Catlin syndicate 2003
September 3 2019 – A- (Good) Continuity Opinion of Lloyd's syndicate 2003 (Catlin Underwriting Agencies Limited) downgraded to B+^ (Above Average), following recording of further material loss for 2018, in light of the syndicate’s recent 5-year average performance relative to its Continuity Opinion peer group. Outlook remains negative.

Travelers syndicate 5000
September 3 2019 – B+^ (Above Average) Continuity Opinion of Lloyd’s Syndicate 5000 (Travelers Syndicate Management Limited) downgraded to B^ (Average) in light of recent underperformance relative to its Continuity Opinion peer group. Outlook revised from negative to stable.

SA Meacock syndicate 727
August 22 2019 – B (Average) Continuity Opinion of Lloyd's syndicate 727 (S A Meacock & Company Limited) upgraded to B+ (Above Average) with a clearer succession plan now evident in the family owned business. Outlook changed from positive to stable.

Talbot syndicate 1183
August 22 2019 – A-^ (Good) Continuity Opinion of Lloyd's syndicate 1183 (Talbot Underwriting Limited) downgraded to B+^ (Above Average) in light of the syndicate’s underperformance relative to its A- peer group. Outlook stable.

Argo syndicate 1200
August 22 2019 – B (Average) Continuity Opinion of Lloyd's syndicate 1200 (Argo Managing Agency Limited) affirmed. Outlook changed from stable to negative in light of the syndicate’s recent 5-year average performance relative to its Continuity Opinion peer group.

StarStone syndicate 1301
April 16 2019 – B-^ (Below Average) Continuity Opinion of Lloyd's syndicate 1301 (StarStone Underwriting Limited) downgraded to C+^ (Below Average) following the announcement of syndicate 1301’s 2018 annual result. Outlook changed from stable to negative.

Syndicate Research Limited (SRL) provides independent research on all active syndicates trading at Lloyd’s. SRL’s Continuity Opinions are opinions on individual Lloyd’s syndicates’ relative, potential continuity prospects for policyholders.

In October 2014 SRL took on the rights to the Continuity Opinions previously offered under Moody’s Analytics Lloyd’s Market service.

More information available at www.syndicateresearch.com

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