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Lloyd’s
Lloyd’s is the world’s leading insurance market, transacting business worth billions of pounds in premiums each year. Lloyd’s Insurance Access
Lloyd’s Insurance Access
For more information on Lloyd’s, read our latest Credit Report:
What is Lloyd’s?
Instead of being an insurance provider, Lloyd’s is a competitive market where one-on-one underwriters take on risks on behalf of syndicates of individual and corporate members whose assets provide the security for Lloyd’s policies. Customers, other brokers, and intermediaries from around the world are the main sources of business brought into the market by Lloyd’s brokers.
The individual syndicates that make up the Lloyd’s market are the conduits for underwriting capacity. Capital supplied by Lloyd’s members supports each syndicate. The managing agent’s responsibility is to oversee one or more syndicates. The managing agent is in charge of the underwriters’ employment as well as the syndicate’s business strategy.
The emergence of Integrated Lloyd’s Vehicles, in which a single corporate entity owns a corporate member that provides all or part of the capacity of the syndicate managed by that agent, is a more recent development.
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Accessing the building – Lloyd’s
Additional Links:
- Over 400 insurance companies are represented by the Association of British Insurers, a trade group, and they collectively account for 96% of all insurance company business in the United Kingdom. In addition to representing members’ interests before a variety of organizations, such as the government, Parliament, and regulatory bodies, the association offers members information as well as technical and statistical services.
The International Underwriting Association offers its members research, information, training, and education. It also acts as a liaison with other financial services organizations and represents members’ interests before governments and regulators around the world. The Institute of London Underwriters and the London International Insurance and Reinsurance Market Association merged to form the IUA.
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