Part

Lloyd’s

Chapter

Special Provisions for Lloyd’s

Printed on: 29/04/2024

Rulebook at: 12/10/2016

2

Special Provisions for Lloyd’s

2.1

Neither the Society nor managing agents may permit a member to carry on any insurance business, except as a participant on one or more syndicates.

  • 01/01/2016

2.2

The Society must ensure that all participants in the Lloyd’s market are made aware of their obligations under the Solvency II Firms Sector of the PRA Rulebook.

  • 01/01/2016

2.3

The Society must establish and maintain effective arrangements to monitor and manage risk arising from:

  1. (1) conflicts of interest (including in relation to (2) to (4));
  2. (2) inter-syndicate transactions, including reinsurance to close and approved reinsurance to close;
  3. (3) related party transactions; and
  4. (4) transactions between members and itself.
  • 01/01/2016