Establishing your business at Lloyd’s – Full Syndicate

We work with aspiring new entrants to find the route into Lloyd’s that best meets your needs. Depending on your circumstances and objectives, we offer a range of bespoke solutions including a traditional Full Syndicate, a Special Purpose Arrangement (SPA) or a Syndicate-in-a-Box offering a faster, more streamlined way for new entrants to access the market.

Full syndicate – who is it for?

  • Existing insurers seeking additional distribution via the Lloyd’s platform
  • Innovative start-up businesses offering different products and distribution

How do we support you?

Entry to Lloyd’s

  • We’ll work with you to ensure your proposed business plan provides accretive value to Lloyd’s and meets with their entry requirements.
  • We’ll sponsor your application and support you through the due diligence and decision stages.
  • We’ll then support you in “making it happen”; guiding you through the implementation of your plan before securing final approval for you to start underwriting.

What are the options for underwriting in the Lloyd’s market?

Requirements Syndicate-in-a-Box Full Syndicate SPA
Transparent set of qualifying criteria
- Profitable
- Expense ratio < 35% by year three c.40  
- Accretive or innovative  
- Box space permitted    
- Developing business: GWP<£100m in year 1    
- Limited peak perils• exposure    
- Short tail (unless historical track record of tong tall)    
Entry process
£100k £200k £75k
Time 3 months 5-12 months 3-6 months
Efficient rules of participation
Capital setting:
- New entrant capital uplift
- Market average loss ratios mandated
- Annualised premium
- Hypothecated reserves
- Internal model required After graduation Not for two years
- Enhanced Central Fund contributions Deferred until 4-6 years
- Flexible line size dispensations
- Optimised reporting
- Streamlined business plan submission
Annual review lifecycle
Fast fall assessment with run-off plans

• Peak perils are currently: US/Caribbean Wind, US/ Canadian Earthquake, Japanese Earthquake, Japanese Typhoon, and European Wind).

To talk to us about establishing a Full Syndicate at Lloyd’s please contact: