Corporate Member Services
Callidus is currently one of the few firms providing comprehensive administration services to Direct Corporate Participants ("DCPs"). As DCPs select their own syndicate participations, they do not require the primary services of a Members’ Agent but may still need assistance complying with Lloyd’s regulatory requirements and deadlines. Callidus has provided these services ad hoc since 2010 but the portfolio was expanded considerably in 2017 when Leadenhall Insurance Consultants Ltd ceased trading and the majority of its clients transferred to Callidus.
Our services are primarily aimed at larger DCPs most often backed from within the insurance industry, Private Equity or Venture Capital, with typical levels of FAL > £30m and/or OPL > £50m. We have largely retained our core portfolio of clients and have grown it modestly year on year, ensuring we maintain a high quality of service without diluting the offering provided to existing clients. We now work with around 30 DCPs, representing around 10% of the Lloyd’s market capacity.
Below are just some of the services we provide to DCPs:
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Ensuring compliance with Lloyd’s Membership and Underwriting requirements including Quarterly Corridor Tests, annual Coming-into-Line and Distribution exercises
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Assistance with all aspects of FAL administration including the preparation of required documentation, obtaining directors’ signatures, submission to Lloyd’s and monitoring the progress of each application
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Monitoring and reporting on Lloyd’s market bulletins that affect corporate members
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In addition to managing the routine administration of the Lloyd's timetable and financial transactions for DCPs, our team maintains a close working relationship with each of our clients. Through regular information flows and meetings, the team can deal with queries proactively and explain the complexities of Lloyd’s requirements in advance so there are no surprises. This two-way interaction also ensures that we can advise and plan appropriately for any likely developments that may impact your corporate member(s).
Callidus provides services to corporate members who arrange their own syndicate participations or deal directly with brokers and managing agents. Although we do not provide direct accounting and tax services, we work with several of the leading firms in this field on behalf of clients, providing confidence that your requirements will be met.
