Lloyd’s underwriters can only accept risks and issue policies via insurance brokers. Brokers can place business with Lloyd’s in a variety of ways.
Lloyd's registered brokers
In London, brokers bring risks to the underwriters in the Lloyd's market on behalf of clients. These brokers are registered by Lloyd’s and use their specialist knowledge to locate the best underwriters and negotiate competitive terms and conditions on behalf of their clients. There are over 180 accredited firms of brokers working at Lloyd's in London, many of whom specialise in particular risk classes.
Lloyd's Service Companies
In Germany, Lloyd’s has a network of ten service companies with specialist local underwriters. They can be directly accessed by all German brokers. In Germany there are currently ten service companies:
- Beazley Solutions Limited
- Hiscox Europe Underwriting Ltd
- Ironshore Agency Limited
- Liberty Syndicate Services Limited
- Markel Underwriting Service Limited
- MS Amlin Marine (Germany) N.V.
- Newline Undewriting Limited
- Starstone Insurance Services Limited
- Tokio Marine Kiln Europe S.A.
- XL Catlin Services SE
There are additional underwriting agencies (known as coverholders) across Germany issuing policies on behalf of Lloyd’s underwriters direct to brokers and clients.