Lloyd's of London

(redirected from Lloyd's)
Also found in: Dictionary, Thesaurus, Medical, Encyclopedia, Wikipedia.
Related to Lloyd's: Lloyd's List, Lloyd's Register

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 ?
And it pointed out that all its syndicates were able to trade through last year's disaster season without the need to call on the central fund of Lloyd's, which is the safety net to meet liabilities.
Greenacres, Lloyd's fabulous Hollywood estate, gets a featurette all its own, as does Lloyd's later pursuit, "stereoscopic" or 3-D photography, with subjects including a young Marilyn Monroe.
"We are very excited that such esteemed tenants as Lloyd's and Protege Partners have selected The Museum Office Building among many other possible options," said Ms.
The 61-year-old chairman of Lloyd's, Lord Peter Levene, has an extensive and impressive background.
Further work needs to explore whether other theories can account for global patterns of brain activity better than Lloyd's does, he adds.
The Management Company, now in liquidation, sold travel insurance on behalf of a Lloyd's syndicate until Lloyd's became "concerned" and ended the deal.
Americans who have unsuccessfully sought to recoup their losses from Lloyd's are watching the case with interest.
While there are real reasons for optimism about the outcome of R&R, Lloyd's has some very real hurdles to overcome, and there is no room for complacency.
Luessenhop is indeed an "insider," one of the thousands of American sponsors of Lloyd's insurance syndicates who lost money, and she is out to expose the perpetrators.
* Lloyd's Risk Exchange, through which less complex risks can be placed in minutes at a fraction of today's costs.
The ratings reflect Lloyd's balance sheet strength, which AM Best categorized as very strong, as well as its strong operating performance, favorable business profile and appropriate enterprise risk management.
Fitch has also assigned Lloyd's Insurance Company S.A.

Full browser ?