We use cookies to improve your website experience. To learn about our use of cookies and how you can manage your cookie settings, please see our Cookie Policy. By continuing to use the website, you consent to our use of cookies. Close

23 LLOYD’S

Reinsurance Practice and the Law

Chapter 23 LLOYD’S OVERVIEW 23.1 Lloyd’s occupies a unique position in the world of insurance and reinsurance and has done so for over 300 years. The Lloyd’s market has grown from a marine base to become a leading market for specialist and casualty insurance accepting business from over 200 countries and territories worldwide. Premiums accepted in 2014 amounted to £25.3 billion. Around 34% of that business related to reinsurance business and 44% related to US and Canadian business. From the reinsured’s point of view, there is little difference on the face of it between a reinsurance contract taken out with a Lloyd’s syndicate and a reinsurance contract taken out with an insurance company. The structure of Lloyd’s and the chain of security underlying contracts of insurance and reinsurance underwritten by Lloyd’s members is, however, unique. These issues are discussed more fully below.

The rest of this document is only available to i-law.com online subscribers.

If you are already a subscriber, please enter your details below to log in.

Enter your email address to log in as a user on your corporate account.
Remember me on this computer

Not yet an i-law subscriber?

Devices

Request a trial Find out more