The Syndicates
 
The Professional Indemnity, Financial Institutions' and Directors' & Officers' facilities are backed 100% by A G Dore & Others (Lloyd's Syndicate 2526), Novae Syndicates Ltd (Lloyd's Syndicate 2007) and Marketform Managing Agency Limited (Syndicate 2468) respectively, ensuring the highest quality security for our clients.


Lloyds of London

Lloyd's is the world's leading insurance market providing specialist insurance services to businesses in over 200 countries and territories. Lloyd's has a proven track record for paying valid claims. For further information on Lloyd's please click here.


Lloyds Security
Current Ratings:
A         A M Best
A+      Standard & Poor
A+      Fitch

 
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.

These ratings reflect the strength of the total resources of the Lloyd's market.


Lloyds Chain of Security

Underpinning its willingness to pay, Lloyd's also has the resources in the form of a chain of security providing several tiers of funds which are available to meet claims:

There are three key features to the Lloyd's chain of security. In combination they provide very strong security to all Lloyd's policyholders, reflected in the high quality ratings assigned by leading rating agencies:


1. Trust Funds

All premiums received are held in premium trust funds or overseas regulatory deposits for the protection of policyholders. These liquid assets are available to meet claims and other underwriting liabilities of the member. These assets are held on a several basis and each member's resources are only available to meet their share of the claims. This forms the first link in the Lloyd's Chain of Security.

Premiums Trust Funds: £27,954 million.


2. Additional Capital

All members are required to hold additional capital at Lloyd's as further security for their underwriting. These assets are also held on a several basis and each member's resources are only available to meet their share of claims. This forms the second link in the Lloyd's Chain of Security.

Capital held at Lloyd's: £11, 282 million.


3. Central Fund

Lloyd's has established a Central Fund which is available, at the discretion of the Council of Lloyd's, to meet any portion of any member's liabilities that the member is unable to meet in full. These assets are held on a mutual basis. This, and other central assets of the Society, constitutes the third link in the Lloyd's Chain of Security.

Lloyd's net central assets: £1,454 million.

In addition to the central fund and other members' funds Lloyd's has local security in Australia in the form of trust funds which currently stand at approximately AUD $1bn.

Source: Lloyd's Annual Report, figures as at 31st December, 2006.