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E5.601 Lloyd's underwriters—overview
Lloyd's is a market through which independent insurance underwriters join together in syndicates to sell insurance under the umbrella of the Lloyd's name.
Lloyd's dates back to the seventeenth century when merchants met at a coffee shop owned by Edward Lloyd to underwrite their ships against loss.
Lloyd's is currently the world's leading insurance market1, underwriting a wide range of insurance, from motor, marine and aviation insurance to natural disasters. Lloyd's specialises in complex and bespoke risk.
The information in this division is in two main sections. E5.601A to E5.610 provide background on how the Lloyd's market operates, accounting procedures, members' funds, and the legal structure of members.
E5.611 to E5.654 cover the taxation aspects of being a Lloyd's underwriter, for corporate, partnership and individual Names.
How and why taxation is different for Lloyd's members
Lloyd's is a unique business and key features of its organisation are reflected in special tax rules. These may conveniently be considered
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Web page updated on 17 Mar 2025 17:38