Lloyd’s

One of the oldest of the City’s institutions, Lloyd’s of London is an international insurance market, which controls and regulates the activities of the groups offering insurance services under its name (Lloyds itself is now regulated by the FCA).

The capital that these groups – or syndicates – need to do business was once provided by individuals (‘names’) who accepted unlimited liability for the syndicate’s losses. Some private names still exist but many sustained huge losses in the early 1990s, and subsequently either left the market or started to funnel their capital through corporate vehicles to limit their liability.

MoneyWeek magazine

Latest issue:

Magazine cover
Walking out on the banks

The UK's best-selling financial magazine. Take a FREE trial today.
Claim 3 FREE Issues
Shale gas 'fracking' promises to transform Britain's energy market. Find out what it is, what it means, and how to invest.

More from MoneyWeek

The problem with the Bank of England

Fracking: Nine reasons not to get carried away

Five small-cap stocks worth a flutter

This Dutch company could help us tame floods

ScreenHunter_01 Mar. 25 09.51

Get the latest tips and investment opportunities from MoneyWeek magazine: Claim 3 FREE Issues HERE