Lloyd’s has improved policyholder security, despite the impact of the 2005 hurricane season, according to Moody’s. The ratings agency has issued a report detailing an increase in central assets at Lloyd’s and a decline in calls on the Central Fund. Moody’s attributes these improvements to the benefits brought about by the introduction of the franchise performance directorate (FPD) in 2003. The FPD has enabled Lloyd’s to minimize the losses from downturns.

Robert Smith, vicepresident/ senior analyst at Moody’s, commented on the 2005 hurricane season: "The positive outcomes were that no syndicates were placed into run-off as a result of the hurricanes and there were only a limited number of syndicates that exceeded their modelled catastrophe losses by a significant margin.”