In the simplest terms, the Corporation of Lloyd’s is there to oversee and provide a range of services to support the market. No small task, when you consider we’re the world’s leading specialist insurance market. Understandably, there are high standards to live up to.
One of the main functions of the Corporation is to lead or support changes to help the market operate in the most commercially attractive and efficient manner. With many individual businesses, varying greatly in size, that’s not a simple task. However, by working closely with the managing agents to improve the way they work, and keeping to the highest standards, much can be achieved.
It is also the Corporation’s responsibility to manage and protect Lloyd’s financial assets and develop Lloyd’s trading status around the world. Again, this all ensures Lloyd’s is an attractive market for capital providers. There are many different teams who look after this side of the business, from International Markets and Business Development to Claims or Market Operations.
Finally, it’s also the Corporation’s job to promote and protect Lloyd’s brand. This is an incredibly important task, considering how great a part Lloyd’s reputation plays in its success. In short, people perform many different roles within the Corporation. You can find out more about all the different departments in the Corporation here.
Find out how all the teams within the Corporation work together to tackle a natural disaster scenario, such as a hurricane, in our Explorer Tool.
