Strategy and vision for Lloyd's in China The opportunities presented by the Chinese reinsurance market are extremely important to Lloyd's. The strategy for Lloyd's Reinsurance Company (China) Ltd (LRCCL) has been set out in the form of five governing principles:
- Entering China represents a long term strategic investment for Lloyd's.
- LRCCL will transfer underwriting expertise and technology into China.
- LRCCL will underwrite for profit not market share.
- LRCCL will provide full access to the Lloyd's Chain of Security to all policyholders.
- LRCCL will strive to develop China's insurance broker market.
Underwriting structure
LRCCL will establish 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.
How to do business with LRCCL
Insurance companies
LRCCL 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.
Brokers
LRCCL seeks to work closely with both domestic and foreign brokers. We believe that there is a strong appetite amongst the regional broking community for the contribution LRCCL can make to the market.
Contact information
Lloyd's Reinsurance Company (China) Ltd.
33rd Floor, Azia Centre
1233 Lujiazui Ring Road
Pudong
Shanghai 200120
Tel: (86) 21 6162 8200
Fax: (86) 21 6162 8250
Email: info@lloyds.com.cn
