Your partner at the heart of Lloyd’s

This option is typically employed for larger syndicate propositions and can include any mix of classes. There is no SLA in force in relation to the application process and it can typically take between 3-6 months to complete.

The capital requirement will attract a 20% new syndicate load due to execution and operational risk factors and each syndicate plan must specifically address ESG, D&I and expense control elements.

Full-status applications typically attract a higher application fee.

This option is designed to suit smaller syndicate propositions of up to £100m in premium, in the first year. An SLA provides for applications to be completed within 3-months from the submission of a full plan.

SIAB is designed for specific short-tail classes of business with no natural catastrophe (LCM5) exposures.  Long-tail businesses may be considered where a demonstrable track record of writing profitable businesses is presented.  There is no new syndicate load.

Applications will require the inclusion of a run-off plan due to the increased risk of failure.

An SPA is a type of Lloyd’s syndicate that can only write a single quota share reinsurance contract of another Lloyd’s syndicate (the ‘host syndicate’) which must retain at least 10%.

Both the host and SPA syndicates must be managed by the same managing agent.

A captive syndicate enables an organisation to write its first-party and some third-party risks, as with a traditional captive arrangement, but with the benefit of access to Lloyd’s license network and ‘A-rated’ paper, reducing the dependence on fronting arrangements and mitigating cost.