Definition - What does Lloyd's Syndicate mean?
Lloyd's Syndicate is a group of underwriters on the Lloyd's insurance market, consisting of active underwriters who arrange the business and non-working underwriters (also referred to as 'names') who stand surety for any insurance claims which may arise.
Insuranceopedia explains Lloyd's Syndicate
Lloyd's of London is the world's leading insurance market, and with the resources behind its policies come from the risks that individual underwriters accept on behalf of corporate and individual members.
Lloyd's Syndicate is a competitive market made up of underwriters. Behind the Syndicate is the Lloyd’s Corporation, which is not an insurer but an independent organization and regulator that acts to protect and maintain the market's reputation. It provides services and original research, reports, and analysis to support the industry’s knowledge base.
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