Managing agents are companies specifically established to manage the underwriting of one or more syndicates. A managing agent is an authorised person that has been approved by the Financial Services Authority (FSA) to carry on one or more FSA regulated activities.
Brokers act as an intermediary between clients and underwriters. There are two types of broker involved in arranging insurance and reinsurance at Lloyd’s: insurance brokers and reinsurance brokers. Some brokers act both as insurance brokers and reinsurance brokers.
Information on all Lloyd's approved and restricted coverholders. A coverholder is a firm that is authorised by a Lloyd's managing agent to enter into contracts of insurance and/or issue insurance documentation on the behalf of a syndicate it manages.
Lloyd's international offices are a valuable resource for the Lloyd's market and a key part of Lloyd's commitment to its customers worldwide. If as a participant in the Lloyd's market, you need help with a particular issue or just want some information about Lloyd's or about local markets please contact the relevant country representatives.
Lloyd's global representation can be either a Country Manager with a full time local office or a Third Party Legal Representative.
By providing international trading advice and assistance, LITA helps to meet two key Lloyd’s objectives: ensuring international regulatory requirements are met and protecting Lloyd’s licences. Up-to-date information and advice on legal, fiscal and regulatory issues is an important ingredient in the transaction of international business. Without such guidance, there is a risk that underwriters, and those acting on their behalf, may act in ways that insurance regulators and other authorities view as non-compliant, possibly leading to the imposition of fines or other penalties, or even threatening Lloyd’s overall trading position in a market.
Guidance on specific questions relating to country-specific regulatory and taxation requirements.
Tailored briefings for market participants on a topic or country of interest.
Educational/briefing sessions from various representatives from Lloyd’s.
Briefings on sanctions and money laundering.
Opportunities to meet with Lloyd’s overseas representatives when they are in London.
For quick and easy access to Lloyd’s international regulatory and taxation information, visit Lloyd’s online business tool Crystal at www.lloyds.com/Crystal