Lloyds of London

Lloyds of London

A marketplace in London for underwriting syndicates.

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.
References in periodicals archive ?
McGovern will join the Company from Lloyds of London where he is currently Chief Risk Officer and General Counsel.
The Bermuda-based firm, which ranges from international commercial underwriting to home insurance, also saw a strong performance from its US market and its Lloyds of London business.
LLOYDS of London nance director Luke Savage is to join insurance giant Standard Life as chief nancial o cer.
Tokyo, Jan 8, 2013 - (JCN) - ITOCHU Corporation has formed a business alliance with Antares Managing Agency Limited (AMAL), which runs a syndicate at Lloyds of London, the world's largest insurance market, to launch an underwriting business at Lloyd's by underwriting reinsurance from the syndicate.
Summary: Lloyds of London insurer Amlin has been plunged deep into the red following huge claims arising from the Japanese tsunami.
Lloyds of London which houses 75 insurance syndicates, said it continued to outperform its major international peers
Young people are too often maligned for their dress sense, but students from Richmond School were commended for their smartness by an official at Lloyds of London.
will face Certain Underwriters Lloyds of London in court to settle outstanding claims related to a fire at the AERT Junction, Texas, plant in early 2003.
British insurance company Lloyds of London wants to search the crash site of a Swissair flight off the coast of Nova Scotia for some lost diamonds worth some USD300m.
LLOYD'S SUED: The state Department of Corporations said Thursday it has sued Lloyds of London and 103 other defendants, alleging fraudulent sale of risky securities.
At Marsh, Magyar was a national resource for technology, telecommunications, media and MPL risks and gained international experience working at Lloyds of London, where she actively brokered deals in London.
Prior to joining Mercator, Novak built a successful career with Cooper Gay, a privately owned, Lloyds of London based insurance broker.