CG24001 - Lloyd's underwriting: Names

Lloyd's underwriters, often referred to as Names or underwriting members, carry on a trade of insurance. Up to 31 December 1993, only individuals with unlimited liability were able to join: from 1 January 1994 companies have been allowed to become members or corporate Names. You will not be concerned with corporate Names as they are dealt with by West Yorks Personal Tax Unit.

Syndicates

For business purposes, Names join together in syndicates. Each syndicate has an underwriting agent who makes insurance contracts for members of that syndicate. A Name will normally participate in several syndicates and a syndicate can have from two to thousands of Names as members.