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Table 11 – Current Lloyd’s Syndicate Ratings (cont’d)

Syndicate Number

Managing Agent

1183

Talbot Underwriting Ltd

1200

Argo Managing Agency

1206

Sagicor at Lloyd's Ltd

1209

XL London Market Ltd

1218

Newline Underwriting Management Ltd

1221

Navigators Underwriting Agency Ltd

1225

AEGIS Managing Agency Ltd

1301

Chaucer Syndicates Ltd

1414

Ascot Underwriting Ltd

1965

Argenta Syndicate Management Ltd

2001

Amlin Underwriting Ltd

2003

Catlin Underwriting Agencies Ltd

2007

Novae Syndicates Ltd

2010

Cathedral Underwriting Agencies Ltd

2468

Marketform Managing Agency Ltd

2488

ACE Underwriting Agencies Ltd

2623

Beazley Furlonge Ltd

2791

Managing Agency Partners Ltd

2987

Brit Syndicates Ltd

2999

QBE Underwriting Ltd

3000

Markel Syndicate Management Ltd

3210

Mitsui Sumitomo Insurance Underwriting at

3334

Sportscover Underwriting Ltd

3622

Beazley Furlonge Ltd

3623

Beazley Furlonge Ltd

4040

HCC Underwriting Agency Ltd

4444

Canopius Managing Agents Ltd

4472

Liberty Syndicate Management Ltd

5000

Travelers Syndicate Management Ltd

5151

Montpelier Underwriting Agencies Ltd

pi = Syndicate is assessed on a public information basis S&P LSAs are based on the level of dependency a syndicate has on NA = not assessed; NR = not rated

All ratings current as at 12 April 2010

Source: A.M. Best, Moody’s, Standard & Poor’s

A.M. Best FSR

Moody’s CO

S&P LSA

NR

B+

NA

NR

NR

3pi

NR

B-

1pi

NR

B

NA

NR

NR

2pi

NR

B+

NA

As

NR

3pi

NR

NR

2pi

NR

NR

3pi

NR

NR

NA

A+ s

A

4/Stable

As

B+

4/Stable

As

B

3-/Stable

As

NR

3pi

NR

2pi

NR

A-

NA

As

A-

4/Stable

NR

NR

4pi

NR

B

3pi

NR

B+

4-/Stable

As

A-

3pi

NR

B+

NA

NR

NR

1pi

As

NR

4/Stable

As

NR

4/Stable

NR

NR

2pi

NR

B-

3-/Stable

NR

B

NA

NR

NR

3-/Stable

NR

NR

3-/Stable

AON BENFIELD

Lloyd's Ltd

Lloyd's: 1 = very high dependency; 5= very low dependency

21

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