Lloyd’s is the world’s leading insurance and reinsurance marketplace, formed of a society of members, incorporated under the Lloyd’s Acts 1871 – 1982. Its members write onshore insurance in 80 countries, onshore reinsurance in 100 countries and offshore reinsurance in over 200 countries. All insurance business in the Lloyd’s market is underwritten by Lloyd’s members, with over 50 managing agents underwriting on behalf 89 active syndicates, over 200 registered Lloyd’s brokers and a global network of more than 4,000 local Coverholders. Much of the insurance and reinsurance capacity available at Lloyd’s is provided on a subscription basis, where syndicates collaborate to underwrite large and complex risks.
Sustainability
Our ambition is for Lloyd’s to be the commercial and specialty market of choice for insuring the transition to net zero. Central to delivering on this ambition is our commitment to transition the Lloyd’s market’s investments and underwriting to achieve net zero emissions by 2050 – a commitment Lloyd’s strengthened by joining the Net Zero Insurance Alliance (NZIA) and Glasgow Financial Alliance for Net Zero (GFANZ). We feel becoming a supporting institution of the UN Environment’s Principles for Sustainable Insurance Initiative is the next step on that journey. Becoming a supporting institution of the PSI will further strengthen the work Lloyd’s has already begun in convening and mobilising the sector to drive risk solution innovation that will enable multiple industries and economies to build greater climate resilience, alongside supporting and protecting the transition progress as Chair of the Sustainable Markets Initiative (SMI) Insurance Task Force. We look forward to supporting the adoption and implementation of the Principles through our Sustainability team. Our Sustainability team has strategic direction of the Sustainable Markets Initiative (SMI) Insurance Task Force, environmental, Social, Governance (ESG) transparency and disclosure, as well as the work of Futureset. Futureset is our global platform and community dedicated to driving greater societal and economic resilience to the world’s most challenging risks though research, engagement, and innovation.