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Reinsurance Management

be built up with the saving in travelling. Cost
of brokerage, delays in remittances and lack of
underwriting control are the disadvantages.

Q. Explain how the reinsurance market in
London is organised?

Ans: The reinsurance market in London is broadly
organised as :-
a. The Lloyd's market
b. The London Company Market

a. The Lloyds Market is a premier world centre of
reinsurance development over nearly three
centuries. Lloyds consists of members with
unlimited liability. Syndicates are formed by
members where the member's liability is limited to
his agreed share.

Reinsurance in Lloyd's Market is done only
through an authorised Lloyd's broker. When a
request for cover is made, the Lloyd's broker
prepares a slip containing details of the risk, obtains

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