Managing Agent
View all "Managing Agent"A managing agent must have, at all times minimum qualifying capital of £400,000, however the managing agent must also keep to a minimum net asset requirement.
This is based on the volume of business written by the syndicate(s) the managing agent manages, and a multiple of the normal operating expenses.
The managing agent will need to show – with the help of appropriate financial forecasts – that it will be able to maintain these requirements at all times.
Glossary and acronyms
Glossary of insurance related terms used by Lloyd's and market participants.