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 ?
BANKING AND CREDIT NEWS-October 29, 2018--Securis Investment to quit Lloyds of London
Global Banking News-October 29, 2018--Securis Investment to quit Lloyds of London
A man walks out of Lloyds of London's headquarters in the City of London, Britain, July 31, 2018.
German reinsurer Hannover Re has announced it has completed its deal to acquire Lloyds of London focused player Argenta Holdings Limited, which provider the reinsurance company with a ready-made syndicate and Lloyds private capital manager.
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.
Ludwig said in a statement to Whispers last week that "if we end up losing this case, perhaps we will have at least succeeded in raising public awareness about the inability of a policy holder to identify, sue, and execute a judgment against the actual alien insurers of 'Lloyds of London' surplus lines policies."
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.
The Lloyds of London insurer said it had rejected an approach reportedlyworth pounds 10 a share froman unnamed bidder - saying the offer "significantly undervalues" the group.
Leisure group Whitbread, Lloyds of London insurer Amlin and power station group Drax will slip into the FTSE 250 to make room for the new entrants..
Lloyds of London which houses 75 insurance syndicates, said it continued to outperform its major international peers