In line with global insurance industry trends, both syndicates and managing agents have been consolidating over the last few years. However, there is little change to the opening position of 2008:
- Syndicates have increased from 66 to 75 in 2008 (including 5 Special Purpose Syndicates (SPS's).
- Managing agents have increased to 46 in 2008.
Where a corporate member and a managing agent of a syndicate are owned by the same company or are part of the same corporate group, that capital provider is described as an 'aligned' member. Where a syndicate consists only of a single corporate member which is aligned to the managing agent this is known as an 'Integrated Lloyd's Vehicle'.
Individual members and some corporate members have no ownership links with managing agents, participate on a number of syndicates and are described as 'unaligned' members.
Aligned capacity decreased from £12,999m in 2007 to £12,290m in 2008. Syndicate alignment has reduced from 80.7% in 2007 to 77.03% in 2008.
Alignment of Capacity 2001-2008
