Both insurance and reinsurance policies placed with Lloyd’s Europe are automatically reinsured to the Lloyd’s market, ensuring that they benefit from the stability of the Lloyd’s Chain of Security.
This means that all Lloyd’s Europe policies have the same protection of the Lloyd’s Chain of Security as other risks placed in the Lloyd’s market. In addition, Lloyd’s Europe holds its own Solvency II capital for further protection.
Insurance policies incepting from 1 January 2019 are placed through Lloyd’s Europe. Reinsurance of EEA risks can continue to be placed through Lloyd’s syndicates when available. Where restrictions apply, these risks would be able to be placed on Lloyd’s Europe paper.
This ensures policyholders can be safe in the knowledge that their policies will be valid regardless of the outcome of Brexit negotiations.