Lloyd's of London
Overview
Lloyd's of London is the world's leading insurance and reinsurance marketplace. Founded in 1688, it brings together an unrivaled concentration of specialist underwriting expertise and talent, backed by strong ratings and excellent financial security. Lloyd's is not an insurance company but a marketplace where members join together as syndicates to insure risks.
What It Does
Lloyd's provides a marketplace for specialist insurance and reinsurance, covering complex and unusual risks that traditional insurers may not handle. Syndicates at Lloyd's underwrite everything from satellites and oil rigs to cyber risks and fine art. The market is known for innovation in insurance products and its ability to handle large, complex risks through its unique subscription market model.
Who Uses It
Large corporations, governments, and specialty risk holders use Lloyd's to insure complex risks. Insurance brokers bring business to Lloyd's on behalf of clients worldwide. Managing agents operate syndicates that underwrite risks, while Names (individual and corporate members) provide capital backing. Lloyd's serves clients in over 200 countries and territories.