The ownership section for the Coverholder shows both company and individual owners and what their shareholdings are. These details can be edited to add new information, or the ownership can be ceased, and details of the new owners added.
On the ownership form you should enter both companies and individuals owning a shareholding in the Coverholder. ATLAS shows both company and individual owners and what their shareholdings are.
When submitting a change of ownership on ATLAS, please provide confirmation from the Coverholder that there will be no material changes to the entity because of the change in ownership. If there will be material changes to the entity, such as changes to the legal name, key staff, location, or systems we will ask you to contact the Lloyd's Delegated Authority team before submitting a change of ownership on ATLAS.
After clicking change ownership you will be asked if you want to make changes to certain other sections on the Coverholder’s ATLAS details. Answering yes to any of these questions will add forms to the change request.
Ownership must be kept up to date on ATLAS as and when changes occur as agreed in the Coverholder Undertaking.