Lloyd's syndicate

{
  "id": "MLC-T-INS-002048",
  "term": "Lloyd's syndicate",
  "field": "Insurance and risk management",
  "definition": "A group of underwriting members at Lloyd's of London that together accept insurance risks under the direction of a managing agent, with each syndicate specializing in particular classes of business. A syndicate is not a legal entity: each member is liable only for its own share of a risk, severally and not jointly. Syndicates are identified by number, and each has an underwriting capacity approved annually.",
  "url": "https://mlchart.com/terminology/insurance/lloyd-s-syndicate/"
}