Raising the standard

Syndicate 2488 recently became the first Lloyd’s syndicate to be awarded a financial strength rating by Moody’s. John Charman chief executive officer of Ace Global Markets, the capital provider and managing agent for syndicate 2488, talks about the impact that the Aa2 (Excellent) rating will have on the Lloyd’s market and why he believes the move towards independent syndicate ratings is inevitable and can only be good for Lloyd’s.