Key criteria for all new Special Purpose Arrangements will be:
Supporting new underwriting expertise / innovation, developing talent.
Add value to Lloyd's offering with consistent profitable results.
Broadening new and existing Members' access to potential business, possibly in new and emerging markets.
Strategy / Rationale
New SPA’s must have a credible strategy for being an SPA and a clear understanding of relationship between SPA and host syndicate.
Depending on the SPA model, the host syndicate managing agent may need to demonstrate a resource plan that includes relevant and qualified staff.