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+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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Investment risk principles, minimum standards and guidance.
The managing agent is responsible for the management and investment of syndicate trust funds
The managing agent should maintain an effective governance framework for the management and investment of syndicate trust funds
The managing agent should establish an investment risk policy which sets out appropriate overall risk tolerance levels and asset and counterparty exposure limits
1) Market risk - the policy should consider the appropriate mix of assets and exposure and concentration limits
2) Credit risk - the policy should consider and set credit risk limits which reflect the credit quality and diversification appropriate to the syndicate's business
3) Foreign exchange risk - the policy should consider the management of foreign exchange risk and any limits on such exposure
4) Liquidity - the policy should state how the appropriate level of liquidity for the syndicate's business is determined and how this is related to cash flows and realistic disaster scenarios
5) Legal framework - adherence to the laws and requirements applicable to different jurisdictions and trust funds and compliance with trust law and trust deeds
The managing agent should establish an investment strategy for investments within the parameters of its investment risk policy which should be an integrated element of the overall syndicate business plan
Links to source documents related to the standards
Lloyd's trust deeds
Investment guidelines for US and Canadian trust funds and custodian questionnaire
Trustee Act 2001
FSA rules - admissible assets
FSA rules - credit risk
Solvency II - EIOPA advice: systems of governance
Stuart SimpsonHead of Treasury & Investment Management
t: +44 (0) 20 7327 5760
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