These licences offer us broad access to major insurance and reinsurance markets worldwide.  See Crystal for more details. Lloyd’s underwriters do not generally deal directly with policyholders. Instead, business is accepted by Lloyd’s underwriters through the following entities:

  • Becoming a Coverholder in Australia

    All firms wishing to become an approved coverholder require a sponsoring Lloyd’s broker and/or managing agent, which perform their own due diligence of the application before it is submitted to Lloyd’s Delegated Authorities Team for review. Lloyd’s insists that Australian coverholders hold an AFSL regardless of the type of business they are writing. Authorised Representatives of a coverholder must apply to become a coverholder in their own right but can utilise the AFSL of their Licensee.

    Coverholders in Australia are also required to comply with all legal and regulatory obligations and meet the requirements of the General Insurance Code of Practice to which Lloyd’s is a signatory. It is advisable to contact Lloyd’s General Representative in Australia if you are considering applying to become a coverholder. Find out more about coverholders here.

    Overseas coverholders can only write insurance business in Australia if they have applied to Lloyd’s for a regional extension to Australia. Overseas coverholders are not permitted to write what is deemed ‘retail’ business under the Corporations Act 2001. A copy of the proposed policy wordings will need to be provided to Lloyd’s Australia prior to approval and the coverholder will need to advise how they intend to pay local taxes.


  • Coverholders or Underwriting Agencies

    Lloyd’s underwriters may delegate their authority to enter into contracts of insurance to an underwriting agency which has obtained approval to become a ‘coverholder’. The coverholder acts as agent of the Lloyd’s underwriters (rather than an agent of the policyholder) and can write business pursuant to a binding authority agreement with the underwriters. ‘Retail’ business as defined by the Corporations Act 2001 may only be written through an Australian coverholder with a binding authority.

  • Lloyd's Brokers

    Insurance business is generally brought to Lloyd’s by Lloyd’s brokers who are insurance broking firms accredited by Lloyd’s to broke insurance business at Lloyd’s.
  • Non-Lloyd's Brokers

    Insurance business may also be placed at Lloyd’s directly by non-Lloyd’s brokers in Australia. It is for the managing agent to check that the non-Lloyd’s broker meets the minimum standards. Non-Lloyd’s brokers may also place business at Lloyd’s through Lloyd’s brokers. Australian brokers are licensed by the Australian Securities and Investments Commission (ASIC) and must hold an Australian Financial Services License (AFSL).


  • Syndicate Service Company

    A syndicate service company is generally a wholly owned subsidiary of a Lloyd’s managing agent. A syndicate service company operates as an underwriting agent in Australia and for the purposes of approval at Lloyd’s, are subject to the same accreditation programme that applies to prospective coverholders. In Australia there are currently six syndicate service companies – Arch Underwriting at Lloyd’s (Australia), Beazley Underwriting, Catlin Australia, Newline Australia, Sportscover Australia and Starr Underwriting Agents.


Useful links:

How to place risk at Lloyd’s

Find a coverholder in Australia (for use by brokers only)

Find a broker in Australia (for use by general public)

Get quick and easy access to regulatory and taxation requirements in Australia with the Crystal tool. This information is intended for use by Lloyd's market professionals only.