Guides for New Entrant Applications
This section gives access to the Lloyd's guides to setting up a new underwriting business (syndicate, managing agent, Special Purpose Arrangement, corporate member).
Establishing a Corporate Member
A corporate member can be established as a private limited company registered in the UK, a Scottish limited partnership or a limited liability partnership registered in England and Wales.
A member supported by private capital needs to appoint a members' agent. A member supported by corporate or trade capital will need to appoint either a members' agent or an advisor. There are currently three members' agents who will advise prospective members about underwriting at Lloyd's.
It is important that interested parties make themselves aware of the risks that membership entails. In particular, the underwriting of insurance is, by its nature, a high risk business and all the assets of a corporate member will be exposed to the possibility of underwriting losses.
Guidance on establishing a corporate member is intended to be available during Quarter 1 2017
The following guidance note is targeted at those who may be considering acquiring or disposing of an interest in a Lloyd’s corporate member.