The members of Lloyd’s provide the capital to support the syndicates’ underwriting. Today, members are drawn from some of the world’s major insurance groups and companies listed on the UK stock exchanges as well as individuals and limited partnerships. Corporate members provide a significant majority of the total capital of the Lloyd’s market.
Private members typically support a number of syndicates, while a corporate member usually underwrites through a single syndicate. Members’ agents provide advisory and administrative services to members. A member is liable only for its share of the risks underwritten and is not responsible for meeting any other member’s underwriting liabilities. The diverse sources of capital in 2008 are shown below.
