Lloyd’s Insurance Company SA (“Lloyd's Europe”) is an Insurer authorised and regulated by the NBB and the FSMA, with its Head Office registered in Brussels, Belgium. Lloyd’s Europe as an insurer is a platform to allow Lloyd’s Underwriters continued access to European business following the United Kingdom's withdrawal from the European Union.
All business written via Lloyd’s Europe is 100% reinsured to Lloyd’s Underwriters. The Managing Agent (referred to as Service Provider for Lloyd’s Europe) via outsourcing agreements, performs coverholder onboarding and ongoing oversight activity on behalf of Lloyd’s Europe. While activity is outsourced to the Managing Agent, Lloyd's Europe remains responsible for all activity outsourced to Managing Agents and coverholders, in the distribution of an insurance contract. As a result, Lloyd’s Europe is required to complete a review of coverholders that are being sponsored by Managing Agents.
The process for Lloyd’s Europe is slightly different due to regulatory requirements. At the same time the Country Manager is holding the conversations with the Managing Agent and prospective coverholder; the Lloyd’s Europe DA Team will also need to carry out a separate review of the coverholder application on ATLAS. This involves an internal review and potentially some further discussions with the Managing Agent.
For all Lloyd’s Europe applications, please contact the Lloyd’s Europe Delegated Authorities inbox LloydsEurope.DelegatedAuthority@lloyds.com at the same time as submission to the local Country manager(s).
When contacting Lloyd's Europe, your due diligence of the coverholder should be at a stage where Lloyd's Europe can undertake its own checks to satisfy its own regulatory obligations, at the same time as allowing you to finalise your due diligence.
Lloyd’s Europe will need to provide its sign off prior to submission of the attestation (if you are a Managing Agent that meets the relevant expectations under the Principles of Doing Business).
Lloyd’s Europe applications have a separate attestation that needs to be submitted, which can be found in the “attestation” section above.
If an applicant coverholder wishes to hold both a Binding Authority Agreement (BAA) and a Coverholder Appointment Agreement (CAA), then this also triggers a referral to Lloyd’s Europe. We expect a Lloyd’s Europe referral and approval to be obtained alongside the usual Lloyd’s process. Both Lloyd’s and Lloyd’s Europe attestation forms will be required when ready.
For general enquiries related to Lloyd’s Europe coverholder applications, please contact LloydsEurope.DelegatedAuthority@lloyds.com