LRCCL extends the Lloyd's market's reputation for risk taking and innovation into the Chinese market. It seeks to work with all of China's insurers, both foreign and domestic. Given the specialist expertise that exists within the Lloyd's market, LRCCL hopes to work with insurers not only to provide additional capacity for their existing lines of business, but to create new and innovative product solutions as well. LRCCL also seeks to work closely with both domestic and foreign brokers. It is believed that there is a strong appetite amongst the regional broking community for the contribution LRCCL can make to the market.
Business Development
Headed by: Zheqiang Xie.
Responsible: Develop a well organized motivated business development team to support the managing agents participating in Lloyd’s China. Refine the Lloyd’s China business development plan to form a highly focused document with clear deliverables associated with marketing activities. Work closely with the Managing Agents and China based producers to align business development expectations and gaining their confidence.
Operations
Headed by: Philip Jones.
Responsible: Develop and maintain an associated operational team to support business, including IT, Finance and Administration groups. It is responsible for the provision of operational support to LRCCL.
Underwriting Divisions
LRCCL has established underwriting divisions reflective of the underwriting expertise of the syndicates operating within the Lloyd's market in London. LRCCL underwriting divisions will have the ability to underwrite business on both an individual and subscription basis by partnering with other underwriting divisions within LRCCL.
Up to March 2008, four underwriting divisions have been set up:
Ace Tempest Re Underwriting Division
Catlin Underwriting Division
Starr Underwriting Division
Travelers Underwriting Division
