Lloyd’s Syndicate
What Does Lloyd’s Syndicate Mean?
Lloyd’s Syndicate is a group of underwriters operating within the Lloyd’s insurance market. It consists of active underwriters who arrange the business and non-working underwriters, also known as “names,” who provide financial backing for any insurance claims that may arise.
Insuranceopedia Explains Lloyd’s Syndicate
Lloyd’s of London is the world’s leading insurance market, with the resources behind its policies coming from the risks accepted by individual underwriters on behalf of both corporate and individual members.
Lloyd’s Syndicate is a competitive market composed of underwriters. Behind the Syndicate is Lloyd’s Corporation, which is not an insurer but an independent organization and regulator. The Corporation’s role is to protect and maintain the market’s reputation, providing services, original research, reports, and analysis to support and enhance the industry’s knowledge base.
