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.
An insurance market organised into syndicates, which underwrites most types of policy.
A collection of individuals who assume policy obligations as the individual obligations of each. The formal name id Underwriters at Lloyd's, London. Also, Lloyd's of London is a service organization which provides a central marketplace and ancillary services (such as policy writing accounting, inspections, and adjusting) for its underwriting members and its brokers.
This is a British insurance market that financial seekers, both individual and companies, can come together and pool their money. It spreads the risk between many investors instead of just one.
The London-based insurance market, which began in a coffee shop in Tower Street in the City in 1689, takes its name from Edward Lloyd, who owned the shop and apparently made strong coffee. Members of Lloyd's of London provide the supporting capital on which the market is built. Corporate members include investment institutions and international insurance companies. About 2,500 wealthy individual members known as "names" also use their own money to back the insurance market. Lloyd's of London was taken to court by several hundred names in 2000, who claimed they were misled about pending losses when they joined the market. Manufacturing output A leading indicator of economic growth. It is becoming less useful as the manufacturing sector shrinks as a percentage of GDP.
One of the world's largest insurance organizations, composed of thousands of individual underwriters.
A corporation that neither underwrites (subscribes) policies of insurance nor directly issues them itself. Insurance is written by individual "underwriting members" who must be elected to membership within the Lloyd's Association. The actual insurer then is not Lloyd's but instead the various underwriters at Lloyd's. The exchange (Lloyd's) provides underwriting quarters for its members and a place for transaction of insurance business by member underwriters, as well as risk management support services.
A London coffeehouse founded in 1688 and frequented by ships' captains and merchants. Founder Edward Lloyd maintained a list of vessels and their cargo, began to underwrite the shipments, and eventually founded Lloyd's of London insurance company.
World's largest insurance market.
The renown insurance underwriters group in London; best know for insuring large and/or unusual risks.
A marketplace where underwriting syndicates, or mini-insurers, gather to sell insurance policies and reinsurance. Each syndicate is managed by an underwriter who decides whether or not to accept the risk. The Lloyd's market is a major player in the international reinsurance market as well as a primary market for marine insurance and large risks. Originally, Lloyd's was a London coffee house in the 1600s patronized by shipowners who insured each other's hulls and cargoes. As Lloyd's developed, wealthy individuals, called "Names," placed their personal assets behind insurance risks as a business venture. Increasingly since the 1990s, most of the capital comes from corporations.
An association of individuals, called "names," or groups of individuals who write insurance for their own accounts. Lloyd's had its beginning in 17th century London in Edward Lloyd's coffee house.
Lloyd's of London is a British insurance market. It serves as a meeting place where multiple financial backers or "members", whether individuals (traditionally known as "Names") or corporations, come together to pool and spread risk. Unlike most of its competitors in the reinsurance market, it is neither a company nor a corporation.
Lloyd's of London is a 1936 drama film directed by Henry King. It stars Freddie Bartholomew, Madeleine Carroll, Guy Standing, Tyrone Power, C. Aubrey Smith, Virginia Field, Douglas Scott and George Sanders.
