Ownership

Delegated Authrorities

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.

When submitting a change of ownership on ATLAS, please provide the following confirmation from the coverholder:

‘We confirm there are no material changes to this entity, and this is purely an ownership change. All systems and controls remain the same as per under previous ownership’.

If there will be material changes to the entity, such as changes to the legal name, key staff, location, or systems etc, please contact the Lloyd's Delegated Authority Team via Coverholders@lloyds.com before submitting a change of ownership on ATLAS.

Failure to include this information will result in the task being returned.

Ownership must be kept up to date on ATLAS as and when changes occur as agreed in the Coverholder Undertaking.

100% Ownership - There will be occasions where the total shareholding does not equal 100%. This will be due to the requirement for initially only providing details of individuals who have at least 10% shareholding. Where total shareholding does not equal 100% please answer the drop down at the bottom of the form. If 'less than 10' is selected the additional shareholders' details will need to be added. Where total shareholding still does not equal 100% please provide a supporting comment explaining how the remaining shares are held.

Structure Chart - It is not mandatory, but it may be useful to attach a company structure chart to give Lloyd's and Managing Agents an overview of where the Coverholder sits within the group, where it is owned by another company.

Company Ownership

Please complete the details for any company which owns a shareholding in the coverholder. The ‘Company trading name’ is the trading name of the owning company and the ‘Registered name’ is the legal name of the owning company, these may be the same.

To cease a company owner, enter a cease date. The cease date should be the last day of the company’s ownership. The shareholding should remain unchanged in order to build a historical record.

Individual Ownership

Please complete the details for any individuals who own a shareholding in the coverholder which is greater than 10%. It may be necessary to add individual owners who own less than 10% where the answer to the drop down at the bottom of the page is ‘less than 10’

To cease an individual owner, enter a cease date. The cease date should be the last day of the individual's ownership. The shareholding should remain unchanged in order to build a historical record.