Category: Comparative markets · Reviewed by Amy Price, Account Executive · Last reviewed 2026-06-05
The Lloyd’s of London New York office is Lloyd’s principal United States representative office, supporting the placement of US-source reinsurance and surplus lines business into the Lloyd’s market. The office coordinates Lloyd’s relationships with US state insurance regulators, manages the Lloyd’s American Trust Fund and related collateral arrangements, and supports US-domiciled brokers and cedants accessing the Lloyd’s market.
Category: Comparative insurance markets Jurisdiction / Domicile: State of New York, United States Regulator: Lloyd’s of London (UK home regulator); NY Department of Financial Services (US state oversight) Established: 1939 (original Lloyd’s US presence); current New York office structure post-WW2 Related concepts: Lloyd’s of London, NY DFS, US state-based insurance regulation
Lloyd’s operates in the US principally on a non-admitted (surplus lines) basis in most states and on an admitted reinsurer basis through the Lloyd’s American Trust Fund arrangements. The New York office is the central representative office; Lloyd’s also maintains a Kentucky-incorporated business trust (“Lloyd’s Kentucky”) for US accredited reinsurance purposes and various state surplus lines registrations.
US Lloyd’s business operates within the framework of the Nonadmitted and Reinsurance Reform Act of 2010 (Dodd-Frank Title V) for surplus lines and within the NAIC Credit for Reinsurance Model Law for US cessions to Lloyd’s. Each Lloyd’s syndicate’s US business is supported by US-located trust funds (the American Trust Fund and the Lloyd’s American Trust Fund for joint asset arrangements) calibrated to outstanding US liabilities. Lloyd’s also operates several state-specific surplus lines registrations and trust arrangements.
Lloyd’s is a major participant in the US surplus lines market — non-admitted, specialty lines that cannot be placed in the admitted US market. Annual gross premium from US sources to Lloyd’s exceeds £14 billion, with significant concentrations in property catastrophe, casualty excess, professional liability, marine, aviation, and energy. US reinsurance business — Lloyd’s syndicates as reinsurers of US-licensed insurers — is supported by the Trust Fund collateral so that US cedants can take “credit for reinsurance” on their statutory balance sheets under NAIC rules.
The Lloyd’s US business is the largest geographic block of Lloyd’s premium income, exceeding even UK domestic business by gross written premium. The US distribution is brokered (Marsh, Aon, WTW, Lockton, Howden and others as principal Lloyd’s US brokers) into the London market and through the various Lloyd’s US arrangements. The New York office provides the institutional interface but does not itself underwrite.
A New York-based broker placing a $200m excess property programme for a US REIT into the London market: brokered through the broker’s London office; subscribed by Lloyd’s syndicates; collateralised through the syndicates’ US Trust Fund participations so that the US cedant insurer can take credit for the reinsurance on its statutory balance sheet under NAIC and NY DFS rules.
This entry is part of the Apex Insurance Wiki. Last reviewed by Matt Bartlett on 2026-06-05. Next review: 2026-12-05.
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