Definitions for "Lloyd's of London"
London's unique insurance market.... more on: Lloyd's of London
Lloyd's is an insurance facility comprising many diverse syndicates, each specializing in a specific risk. Coverages provided include jumbo or excessively large risks as well as reinsurance and retrocessions. Syndicate membership is restricted to individuals with considerable personal net worth, and each member may belong to more than one syndicate depending upon his net worth.
insurance marketplace where brokers, representing clients with insurable risks, deal with Lloyd's underwriters, who in turn represent investors. The investors are grouped together into syndicates that provide capital to insure the risks.