Consortia bring together the expertise and capacity of multiple syndicates into a single, streamlined underwriting proposition.
Through a consortium arrangement, underwriting authority is delegated to a lead managing agent, enabling risks to be written consistently on behalf of participating syndicates.
Placement is led by an experienced lead underwriter and automatically subscribed by follow underwriters via a single consortium stamp, with each participant’s share pre‑agreed in the consortium agreement. This provides greater certainty and consistency of committed capacity.
Efficient deployment of capacity through a streamlined, single‑entry underwriting structure
Greater certainty of participation via pre‑agreed shares and automatic subscription under a single consortium stamp
Access to proven underwriting expertise through alignment with an established lead underwriter
Tailored coverage solutions delivering consistent underwriting and scalable capacity for clients
1.
The lead and follow syndicates negotiate and agree the scope and underwriting strategy for the consortium as well as confirmation of syndicates intended capacity and overall proposition.
2.
Formalise the consortium through a Consortium Agreement, setting out delegated authority, underwriting guidelines, governance arrangements and pre‑agreed shares. A lead underwriter is appointed and participating follow market(s) are confirmed.
3.
Where bureau processing is required, the consortium is registered with Velonetic. This includes reserving and registering the appropriate C&C number and submitting the required documentation for each year of account.
4.
Once approved and registered, business can be placed under a single consortium stamp, enabling efficient binding and processing of premiums and claims.
Lloyd’s has introduced region‑specific consortium agreements to extend the benefits of consortia into key international markets. These arrangements enable service companies to bring together Lloyd’s capacity behind a single local platform, supporting efficient placement while meeting regional regulatory requirements.
Explore the relevant territory‑specific pages for further details below.
