Special provisions in the Insurance Act 1973 allow Lloyd’s Underwriters to underwrite insurance business in Australia.
The Australian market is the fourth largest source of revenue for Lloyd’s globally and the premiums generated by Australian policyholders in 2008 amounted to approximately A$1,050 million, 80% of which is direct insurance and 20% is reinsurance.
In Australia, Lloyd’s is best known as a market for commercial risks in respect of property and casualty classes of business.
Lloyd’s Underwriters work closely with brokers, syndicate service companies and local underwriting agents (coverholders) and are able to offer tailor-made insurance products for large risks as well as for the SME market.
Lloyd’s Australia is the representative office of Lloyd’s of London and is located in Sydney.
Lloyd’s Australia Limited
Level 21
123 Pitt Street
Sydney NSW 2000
Australia
Tel: +61 (0) 2 9223 1433
Fax: +61 (0) 2 9223 1466
Keith Stern was appointed Lloyd’s General Representative for Australia in January 2000. He is also Regional Manager for Asia-Pacific (excluding China and Japan). Keith previously worked within the regulatory and international divisions at Lloyd’s in London.
Contact details:
Email: keith.stern@lloyds.com
