Category: Lloyd's market · Reviewed by Amy Price, Account Executive · Last reviewed 2026-06-05
Names at Lloyd’s are the underwriting members of the Lloyd’s market — the individuals or corporate entities providing capital to support participation in one or more Lloyd’s syndicates. Historically Names were predominantly individuals with unlimited liability; today the great majority are corporate entities with limited liability.
Category: Lloyd’s market Also known as: Names, members, underwriting members Related concepts: Unlimited liability Names, Corporate Names Lloyd’s, Funds at Lloyd’s
A Name participates in one or more Lloyd’s syndicates by committing capital (Funds at Lloyd’s) to support an allocated share of each syndicate’s underwriting capacity. The Name receives a corresponding share of the syndicate’s underwriting result — premiums net of claims, commissions, expenses and reinsurance — as profit or loss.
Modern Lloyd’s underwriting is overwhelmingly capitalised by corporate Names: listed groups (Beazley, Hiscox, Lancashire), insurance groups (Tokio Marine, Munich Re, Markel), Lloyd’s-only vehicles (the integrated Lloyd’s vehicles of major global insurers), and ‘name’ corporate vehicles set up to consolidate the participation of multiple smaller capital providers.
Unlimited liability Names — historically the iconic Lloyd’s structure, with individuals exposed personally and without limit to syndicate losses — have been progressively wound down following the asbestos-related losses of the late 1980s and early 1990s. Today fewer than 1 per cent of Lloyd’s capacity is provided by unlimited liability Names.
Members are admitted to Lloyd’s by the Council of Lloyd’s under the bylaws and Membership Byelaw. Each member enters into membership documentation (Members’ Agent Agreement, Members’ Trust Deed, etc.) governing the basis of participation.
The PRA Insurance Rulebook’s Lloyd’s chapter and the Solvency II framework regulate the capital required of members. The FCA regulates conduct.
Members participate in syndicates either directly (corporate Names participating directly in one or more syndicates) or via Lloyd’s name agents (LNAs) who pool the participation of smaller members across multiple syndicates. Members provide FAL on admission and at each renewal, receive distributions on profitable years of account, and bear losses on adverse years.
The integrated Lloyd’s vehicle (ILV) structure is the dominant modern format: the corporate Name and the syndicate’s managing agent are subsidiaries of the same group, with capital and management aligned.
An illustrative example: Beazley plc operates through a group structure that includes Beazley Underwriting Limited (the corporate Name providing the majority of capacity for Beazley Syndicate 623) and Beazley Furlonge Limited (the managing agent operating the syndicate). The integrated structure aligns capital, management and underwriting within a single listed group.
This entry is part of the Apex Insurance Wiki. Last reviewed by Matt Bartlett on 2026-06-05. Next review: 2026-12-05.
Apex Insurance Brokers Limited. Authorised and regulated by the Financial Conduct Authority, FRN 724952. Registered in England and Wales, Companies House 07014570. This entry provides general information about UK insurance concepts and is not regulated advice. Consult your insurance broker on your specific position.
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