Our purpose

Lloyd’s is the world’s leading insurance and reinsurance marketplace, protecting assets, promoting growth and sharing risk to create a braver world.

 

In 2018 we set out a path that saw us work closely with the market to improve performance and develop business in four priority areas:

 

  • Improving underwriting  performance through risk-based market oversight and a rigorous review process;

  • Improving market adoption of the services delivered in phase one of the London Market Target Operating Model to yield business process efficiencies;

  • Developing our business in Europe by making our new Lloyd's Brussels subsidiary operational by the end of 2018;

  • Making it easier for customers to reach Lloyd’s and encourage innovation across the market through a series of pilot initiatives  

Read the Lloyd's Strategic Report to find out more.

 

Our proposition

In the six months to March 2019, we spoke to hundreds of stakeholders to tell us how we should evolve Lloyd’s to achieve this goal. Based on your feedback, we defined our value proposition so our stakeholders can see how the Lloyd’s market creates value today.

 

  • Choice - The world’s largest insurance marketplace and global distribution network, competing and collaborating to share risks no matter what the size, location, industry or complexity.

  • Confidence - We take pride in doing what’s right, paying all valid claims. For over three centuries the security of Lloyd’s has protected what matters most to people, businesses and communities and helped them recover in times of need.

  • Partnerships - The trusted relationships which underpin our marketplace are one of our greatest strengths. Our community of experts bring a collaborative culture of mutual respect to best serve our customers, enabling us to share risk.

  • Expertise - With an unrivalled depth and breadth of insurance expertise, new ground is familiar territory to Lloyd’s. We bring together the best minds in the industry, and together our underwriters and brokers create innovative, responsive solutions.

  • Insight - Lloyd’s has always been an intelligence network and continues to lead the industry. Our insight, experience, judgement and advice inform decision-making and ensure our customers stay resilient and ahead.

  • Ecosystem - As a marketplace, Lloyd’s provides access to economies of scale through consistent standards and shared business services. Our competitive environment and capital efficiencies improve performance and unlock new opportunities. 

Our future

The world is changing, and Lloyd’s must continue to evolve.

We are developing our strategy which will guide us for the future.  In May 2019 we will publish a prospectus which will paint a picture of the market of the future and launch a consultation process where our stakeholders will join us in shaping that future.  Read the Future at Lloyd's for a preview of the ideas and find out more.