OREANDA-NEWS. Fitch Ratings has affirmed Lloyd's of London's (Lloyd's) and Lloyd's Insurance Company (China) Ltd's Insurer Financial Strength (IFS) Ratings at 'AA-'. Fitch has also affirmed the Society of Lloyd's Long-Term Issuer Default Rating (IDR) at 'A+' and subordinated bonds at 'A-'. The Outlooks are Stable.

The affirmation reflects Lloyd's strong business position in insurance and reinsurance classes, robust risk-adjusted capitalisation, low financial leverage and strong underwriting performance. These positives are somewhat offset by Lloyd's fairly high exposure to international catastrophes.