The Corporation’s role includes:
- Managing and protecting Lloyd’s network of international licences
- Agreeing syndicates’ business plans and evaluating performance against those plans. Syndicates are required to underwrite only in accordance with their agreed business plans. If they fail to do so, Lloyd’s can take a range of actions including, as a last resort, stopping a syndicate underwriting
- Monitoring syndicates’ compliance with Lloyd’s minimum standards
- Continuing to raise standards and improve performance across two main areas
- overall risk and performance management of the market
- maintaining and developing the market’s attractiveness to capital providers, distributors and clients, while preserving its diversity.
The Corporation’s Executive Team exercises the day-to-day powers and functions of the Council of Lloyd’s and the Franchise Board.
At 31 December 2015 the Corporation and its subsidiaries had 995 staff.