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Related to Lloyds: Lloyds Bank, Lloyd's of London

Lloyd's of London

An insurance and reinsurance market in London. Active since the 1600s, it is not a company, but instead a society of individual and corporate members, who come together to spread and pool risk between themselves. Thus, Lloyd's insurance policies are backed by the financial stakes of its members. Lloyd's does not underwrite policies itself (it leaves that to members). but instead acts as a de facto regulator for the conditions under which its members offer policies.

Lloyd's has a three-tiered corporate structure: members, managers, and syndicates. Members provide capital and employ one or more underwriting syndicates. Managers provide the business infrastructure to syndicates for insurance and reinsurance policies. Syndicates underwrite risks and handle claims on particular policies. Complex and/or expensive policies often involve multiple syndicates. Lloyd's also employs brokers and service companies to facilitate transactions between clients and Lloyd's.

Lloyds (of London)

a corporation whose membership comprises a group of some 31,000 INSURANCE BROKERS and INSURANCE COMPANIES engaged in the UNDERWRITING of INSURANCE risks. Lloyds itself does not perform any underwriting business; its member brokers and insurers either act individually in arranging insurance cover for clients, or, in the case of particular types of insurance risk, operate together on a consortium or syndicated basis. What Lloyds does is to provide a forum for organizing syndicated insurance groupings and to validate the integrity of its members in the eyes of the public (i.e. members of Lloyds are expected to conduct their business in a fair and honest way and to deposit funds with it as a surety).
References in periodicals archive ?
The UISL model, says Thompson, has brought a new set of challenges to Lloyds TSB since its inception in February.
Contains a study of the major internal and external factors affecting Lloyds Banking Group plc in the form of a SWOT analysis as well as a breakdown and examination of leading product revenue streams of Lloyds Banking Group plc
Unique data on Lloyds TSBs UK personal insurance business, including premium income and performance ratios
These brands, in addition to CashFriday, which provides payroll services to the recruitment industry, will now fall under the umbrella of Lloyds TSB Commercial Finance, creating a one-stop for factoring and ABL services.
Additionally, EVS has made it possible for Lloyds to make use of the original site as a fully operational disaster recovery site.
Lloyds TSB has been a customer of ACI for nearly 20 years and already makes extensive use of BASE24[R] and BASE24-es in the retail bank.
Secondly, we wanted to simplify bank reconciliation processes, and improve accuracy and efficiency," said David Potts, Finance Director, Lloyds TSB Asset Finance Division.
Lloyds TSB is using the SumTotal Enterprise Suite, including the TotalPerformance module, to drive its Performance Learning Management System (PLMS) initiative.
The new Lloyds TSB credit line is a combination of unsecured and secured term loans and receivables finance.
Following a successful Verified by Visa pilot, Cyota and Lloyds TSB expand the service to include MasterCard(R) SecureCode(TM), and
Lloyds TSB has received its 70 millionth automated call - representing more than 84 million financial transactions - through a speech-enabled customer self-service telephone system based on an interactive voice response (IVR) solution from Nortel Networks (NYSE:NT)(TSX:NT).
Lloyds TSB, a leading UK financial services group, has selected SAS(R) Risk Management for Banking software to provide a foundation for risk management that goes beyond Basel II compliance.