New branch applications

A branch application can only be submitted where the legal entity is identical to an existing approved coverholder. This does not include subsidiary companies or sister companies within the same ownership group. If the application is for an entity in the same ownership group but with a different legal name, a full application must be submitted.

When a branch is required

A new branch application is required where the following is true:

• The additional address is named on the correspondence and documentation issued to policyholders
• The additional address is binding, issuing and administering policies to policyholders
• Monies are being sent and processed at the additional address outside of a centralised system
• The additional address is listed on the regulatory licences for the company
• The additional address is used to sign and send policy documentation outside of a centralised system
• The additional address is used on promotional materials including websites
• The additional address is used to handle claims outside of a centralised system

To start a branch application, please review to the ATLAS how to guide.

Applications being sponsored by a Managing Agent meeting their expected maturity ratings

Once the application has been submitted to the managing agent, the managing agent may be required to contact the Lloyd’s Country Manager, in the relevant territory where the applicant is domiciled.

Details of the Country Manger contacts can be found on Crystal+ and on the referral criteria webpage.

The Lloyd’s Country Manager may not require a meeting with the coverholder for branch applications. This will be confirmed once you have contacted them.

Referral criteria

Some applications will require additional conversations or reviews by internal Lloyd’s teams. The sponsoring managing agent is required to review the Lloyd’s referral criteria and assess if the proposed application will require any further discussions within Lloyd’s. The referral criteria explains any additional information that is required to be provided for these referrals.

Please do not submit the application to Lloyd’s until you have spoken to the Country manager where applicable and any additional referrals have been completed. We will return any applications which do not follow the process correctly.

Attestation

A signed attestation, confirming the proposed coverholder meets all the necessary requirements to become a Lloyd’s coverholder; will need to be submitted with the coverholder application. Sponsoring managing agents who meets their relevant expectations under the Principles for Doing Business, are no longer required to submit a decision paper. Lloyd’s will rely on the due diligence that a managing agent has carried out and their overall assessment of that coverholder.

Lloyd's Europe

All the above points being completed, once the branch application is submitted to Lloyd’s with the attestation, the Lloyd’s DA Team will then carry out the formal registration process.

Applications being sponsored by a Managing Agent not meeting their expected maturity ratings

If the sponsoring managing agent is not meeting the relevant expectations under the Principles for Doing Business, they are required to submit a completed decision paper, with the ATLAS application and Lloyd’s will also carry out an assessment of the proposed branch application.

The decision paper should be completed by the sponsoring managing agent. Please contact the Lloyd’s Delegated Authorities team at coverholders@lloyds.com for a copy of the decision paper.