Insurance Regulation & Accounting
Lloyd’s franchise tackles “significant variances”
There will be no change for 2004 to the franchise performance guidelines that
Lloyd’s managing agents need to follow but the franchise directorate has issued new notes on how to interpret the guidelines. The
move follows what the directorate calls “some significant and not always fully justified variances from certain guidelines,
in particular those referring to catastrophe exposure, gross line size, reinsurance leverage and reinsurance”.