accounts placed at Lloyd’s as a result of becoming a

Lloyd’s Broker. Alternatively, you might hold delegated

underwriting authority from Lloyd’s Underwriters.

You must be fully authorised by your local regulator. You

can be domiciled in most territories, as long as it would

be possible to demonstrate to Lloyd’s that the

Regulatory environment there met certain standards.

You need to be able to demonstrate that your resources,

both Human and Financial are adequate and if they are,

you can even be a “start-up” operation.

Can an applicant get support with the accreditation

process?

Helodrium provides an all-round service to help achieve

Lloyd’s Broker accreditation as well as manage the back

office requirements of operating in the London Market.

Helodrium has successfully brought other companies

Would you consider becoming a Lloyd’s Broker?

The full classification of “Lloyd’s Broker” reflects the

very important role that Lloyd’s brokers have to play at

Lloyd’s and the high quality of mediation that they bring

to the market, which is recognised around the world.

Being a Lloyd’s Broker can actually bring you further

opportunities by enabling you to represent other

intermediaries to Syndicates and Companies in the

London Market.

Who might benefit from becoming a Lloyd’s

Broker?

There are three groups that might benefit from

becoming Lloyd’s Brokers,

➢ UK regional broking firms and Non-Lloyd’s

brokers operating within the “London

Market”, many of which would be correspondent

brokers of Lloyd’s Brokers.

➢ non-UK-domiciled brokers, that are also likely

to be correspondent brokers of one or more

Lloyd’s Brokers.

➢ employees of existing broking firms who

want to break away to form their own

companies.

What do you need to have in place already in order

to become a Lloyd’s Broker?

You need to be a producer of wholesale or retail

insurance business, ideally with a proportion of your

existing portfolio already placed with Syndicates at

Lloyd’s, or at the very least, the opportunity to acquire

What’s involved in becoming a

Lloyd’s Broker?

www.helodrium.com020 3544 5050

Call us today –

we would be pleased to discuss your

requirements

Contact Details

Helodrium Ltd34 Lime Street, London EC3M 7AT

Telephone

Fax

020 3544 5050 020 3697 1911

Info@helodrium.com

www.helodrium.com

Neville Hunt +44 (0) 7860 634 732

Helodrium – the element of success

What if my company doesn't have Regulatory

Authorisation already?

If you are a firm domiciled in the European Economic

Area, you need to be authorised by a European

Regulator to apply for accreditation as a Lloyd's Broker.

If you are domiciled outside of the EEA but would

consider operating remotely to access Lloyd's and the

London Market, you can do so but you will need to

operate within the regulatory exemptions that are

available. Alternatively, you might choose to apply for

full authorisation as a UK regulated firm. Helodrium will

assist you by supporting you through the entire

application process, helping you set up the company, fill

in the forms, produce the required documentation and

respond appropriately to any questions raised by the

FCA. This aspect of the application process is not

included in our Lloyd’s application fee but please

enquire as fees will vary according to the complexity of

the task.

How much will the Lloyd’s application cost?

In respect of Lloyd's you should budget for £10,000 in fees for the conclusion of a successful application at the

time this leaflet goes to press (February 2018), however, allow for at least £16,000 if you intend to retain the interface with Xchanging in-house.

Helodrium’s Fees

We provide a bespoke service, so we will need to

assess your specific requirements and understand your

particular situation before we can indicate a figure for

our fees.

through the entire process, using skills developed by

the firm’s human resources during multiple decades in

the market. Helodrium has extensive experience in

commercial broking environments – in placing and in

technical support – whilst periods at the then Financial

Services Authority and the Admissions Department of

Lloyd’s mean that the team can offer practical

experience of the organisations that it will approach on

your behalf.

Within the application process the applicant is required

to demonstrate that it has the skills to deal with the

market clearing house, called Xchanging. As part of our

service, Helodrium will offer you the opportunity to

outsource the Xchanging interface, information for

which is contained in a separate leaflet.

What are the requirements for an application to

Lloyd’s?

The list of requirements, whilst apparently

straightforward, has within it a number of issues on

which it would be beneficial for the applicant to have

expert advice in order to make the application flow

smoothly. In short it comprises:

A business plan, Financial Information, Curricula

Vitae, Professional Indemnity Insurance, an

application form and evidence of support from

within the underwriting community at Lloyd’s

Helodrium will guide you through the actual

requirements of each element and ensure that

yourapplication meets all the relevant standards when it

is presented to Lloyd’s.