What are public limited companies that underwrite business in the Lloyd's market called?

Public limited companies that underwrite business in the Lloyd's market are called corporate members. These entities participate in underwriting risks within the Lloyd's framework, which is a unique marketplace known for its decentralized structure and ability to accept a wide array of insurance and reinsurance risks.

Corporate members are significant because they have limited liability, meaning their financial exposure is restricted to the amount they have invested in their capacity to underwrite. This helps to attract institutional investment to the Lloyd's market, which can enhance the overall capacity and resources available for underwriting.

In contrast, Lloyd's agents act primarily as intermediaries who facilitate the business being placed at Lloyd's rather than directly underwriting risks. Lloyd's syndicates, while also related to underwriting, generally consist of both corporate and individual members pooling resources to underwrite risks collectively. Underwriting names refer to individual members or names that take on underwriting capacity, but these do not include the corporate structure characteristic of public limited companies. Thus, corporate members are specifically defined by their status as public companies underwriting within this distinctive insurance market context.