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What is a Member?

Overview

All member activity is governed by the Membership & Underwriting Conditions and Requirements (M&URs).

Corporate and individual members conduct their Lloyd's insurance business through syndicates run by managing agents.

A Lloyd’s syndicate is formed by one or more members joining together to provide capital and accept insurance risks on a several liability basis. This means members are not responsible for losses incurred by other members. 

Members’ funding requirements are determined by their underwriting business. Member's assets are known as Funds at Lloyd’s (FAL).

Find out more about Funds at Lloyd’s

Types of member

There are three principle types of member, which can be supported by Third Party Capital Providers:

Corporate member:

A corporate entity formed exclusively to underwrite Lloyd’s business. These include Limited vehicles, LLPs and SLPs.

Direct Corporate Participant:

Qualifying corporate entities which operate without the services of a members’ agent.

Unlimited member (a 'name'):

Individuals whose exposure to the insurance risks they underwrite is unlimited. 

Third Party Capital Providers

There are also around 2,500 Third Party Capital Providers.

Contact

If you are interested in becoming a Member, please contact a Member’s Agent in the first instance.

Client-Gateway@lloyds.com