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One Lime Street
+44 (0)20 7327 1000
Managing Agent Services:
+44 (0)20 7327 5693
Lloyd’s occupies sites in both London and Chatham.
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+44 (0)20 7327 6125Out of hours calls:+44 (0)7659 597 825
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A Lloyd’s account gives market participants such as underwriters, brokers and coverholders access to enhanced content and services. If you are not a market participant you can also create an account to sign up for email news and updates from Lloyd’s.
An introduction to Lloyd's and how it operates, including financial results and events.
Take a virtual tour around the Lloyd's building.
Today Lloyd's is the world's leading insurance market, housed in an award-winning modern building in Lime Street in the City of London. Its origins, however, lay in the more modest surroundings of a 17th century coffee house.
Lloyd’s is a face-to-face market, with all the dynamism and innovation that a market generates. Like any market, it enables those with something to sell – underwriters providing insurance coverage – to make contact with those who want to buy – brokers, working on behalf of their clients who are seeking insurance.
Lloyd’s is not an insurance company, it is a partially mutualised market where members of Lloyd’s join together as syndicates to insure risks.
Much of Lloyd’s business is written on a subscription basis, with more than one syndicate taking a share of the same risk.
Lloyd’s Registered Brokers place risks in the Lloyd’s market on behalf of clients. These brokers use their specialist knowledge to negotiate competitive terms and conditions for clients.
There are over 180 firms of brokers working at Lloyd’s, many of whom specialise in particular risk categories. Each Lloyd’s broker is required to demonstrate that it meets certain criteria required by Lloyd’s including that it has the ability to properly handle business in the Lloyd’s market and that it meets Lloyd’s professional indemnity insurance requirements.
As at 31 December 2009, there were 84 syndicates at Lloyd’s. Syndicates operate on an ongoing basis, although they are technically a series of annual ventures. Members have the right, but not the obligation, to participate in syndicates for the following year. In practice, most syndicates are supported by the same capital providers for several years. The stability of the core capital base enables syndicates to function like permanent insurance operations under the Lloyd’s umbrella.
A large proportion of Lloyd’s business is conducted in the Underwriting Room at Lloyd’s, where most of the syndicates have a presence. Here, detailed negotiations take place regarding the risks brokers wish to place at Lloyd’s. Most of these placements involve face-to-face negotiations, but work is underway to enhance the supporting business processes and develop an electronic infrastructure.
Some syndicates specialise in underwriting a certain class of insurance, whereas others write a range of classes. Having direct access to this concentration of underwriting skill gives Lloyd’s its excellent reputation for expertise, innovation and quick decision-making.
A coverholder is a firm, either in the United Kingdom or overseas, that is authorised by a managing agent under the terms of a binding authority to enter into contracts of insurance to be underwritten by members of a syndicate managed by the managing agent. A Lloyd’s broker may act as a coverholder. The coverholder underwrites and issues Lloyd’s cover on behalf of the syndicate in line with this agreement.
This allows syndicates, which are largely based in London, to do business worldwide, subject to Lloyd’s licences. The managing agent is responsible for monitoring the operation of binding authorities and we must approve the coverholders themselves.
Lloyd's currently enjoys an A rating from A.M. Best and A+ ratings from Fitch Ratings and Standard & Poor's. Find out what these ratings mean and why Lloyd's is rated as a market, rather than a business.
There is a wealth of financial reporting information available on the Lloyd’s market and the individual businesses that operate within it. Please find information on:
Financial results – an archive of Lloyd’s financial results including related press releases, presentations, webcasts and contacts.Annual reports – Lloyd’s market results, annual reports and annual accounts for years ended 31 December 2005 to 31 December 2009.Syndicate forecasts – information about syndicate forecasts and access to the syndicate forecasts spreadsheet.
Please search the events diary to find events that Lloyd's registered brokers are invited to attend.
If you are unable to find what you are looking for please contact the Broker Relationship Management Team.
Lloyd's Broker Directory
Key Lloyd's publications
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