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Trading rights in China

Lloyd's Permissions

Permitted for non-Life direct insurance via Lloyd’s Insurance Company (China) Ltd (LICCL)

Local policies are issued in country


(Allowing Lloyd's to write non-admitted risk)

  • International Marine, Aviation & Transport (MAT) can be written by Lloyd's Underwriters offshore
  • Non-admitted where insured is a Chinese legal entity but risks not located within China; or insured not a Chinese legal entity but risks located in China

Doing multinational business in China

To provide coverage in China, syndicates need to be approved to participate on the LICCL platform. Each syndicate operates as a separate underwriting division with nominated underwriters appointed by managing agents.

To arrange a local policy as part of a multinational policy, syndicates’ underwriters should contact their local underwriters on the China platform who will co-ordinate with the local customer and provide a quote in line with locally regulated filed rates and wordings (aligned as closely as possible to original proposal).

Each risk or portion thereof (if subscription business) written by and in the name of LICCL will be booked locally and internally accounted for against the corresponding underwriting division(s).

In principle, underwriting divisions are responsible for policy issuance and data input in the local core business system. Upon request the local Corporate team may provide shared-services to assist with data inputs and policy issuance subject to shared-service charges.

Following local regulatory requirements, up to 80% of all Chinese risks written can be ceded back to the corresponding syndicate. The remaining 20% risks can be reinsured to other qualified reinsurer(s) (either syndicate’s affiliate or third party reinsurers)  (subscription business might be exempted from the restrictions – LICCL team can advise on preferred approach). 

Key information

All business underwritten by Lloyd’s China is fully protected by the Chain of Security at Lloyd’s; thus Lloyd‘s China enjoys the Lloyd’s market rating of AA- (Fitch Ratings), A+ (Standard & Poor’s) and A (A.M. Best).


Local brokers or agents may be used where needed.


The local policies issued by LICCL shall adopt insurance policy wordings and premium rates locally filed with the regulator.

Claims Handling

Claims are handled by the syndicate(s) with administrative support by the Corporate Claims team.

Premium and Claims Payment

Premium collection and claims payment are centrally managed by the LICCL Corporate team under each underwriting division's corresponding sub-account.

Customer Service

Centralised 24/7 customer service and complaints hotline in place.


Where managing agents are not on the LICCL platform, syndicates can choose a local fronting company to issue the local policy, subject to fronting fee and 20% retention by the fronting company.  This could be reinsured back to Lloyd’s Underwriters.


These country profiles and Crystal are provided for information purposes; they do not constitute solicitation of business and are not intended to be a substitute for appropriate professional advice.