PRODUCTS :: COMPANY :: RESOURCES :: WHOLESALE In Partnership with Lloyd's... Lloyd's of London is an insurance market, established by Edward Lloyd in 1688, and is made up of a society of corporate and individual members that underwrite as syndicates (groups that form an association to carry out business transactions). As of January 2005, Lloyd's has 44 managing agents and 62 syndicates making it the world's largest leading specialist insurance market. The Lloyd's members are often called "capital providers" and accept risk on behalf of the syndicates, which are run by managing agents. The Members are capable of funding risks because they are investment institutions, special investors, international insurance companies and individuals. Each member of Lloyd's is required to provide capital as security to support their total Lloyd's underwriting business. This is known as Funds at Lloyd's. The level of funds at Lloyd's determines the amount of insurance business a member can underwrite. All Lloyd's syndicates benefit from Lloyd's central resources, including the Lloyd's brand, its network of global licenses and the Central Fund. The Central Fund is available at the discretion of the Council of Lloyd's to meet any valid claim that cannot be met by the resources of any member. As all Lloyd's policies are ultimately backed by this common security, a single market rating can be applied. With $26.35 billion in capital, Lloyd's is currently rated as an A market by Standard & Poor's (Strong), AM Best (Excellent) and Fitch Ratings (Strong). Lloyd's of London provides insurance to 80% of the companies that make up the Dow Jones Industrial Average and to 64% of the Fortune 500 firms. By combining the funding, underwriting expertise and talent of Lloyd's of London with our products, we are able to provide you with the best possible coverage with the best possible support. |