LLD 15.6 Major facultative reinsurers
The Society must, in connection with the general insurance business carried on by members, include in the Lloyd's Return a statement of major facultative reinsurers.
A major facultative reinsurer is an insurance company to which or with respect to which:
- (1)
0.5% or more of the gross premiums receivable in respect of general insurance business of the members in aggregate has been ceded; or
- (2)
the addition of the amounts in items (4) and (5) of LLD 15.5.6 R produces an amount exceeding 1% of the aggregate gross assets of members.
The Society should be treated as if it were a major facultative reinsurer when inter-syndicate reinsurance in aggregate exceeds the amounts set out in LLD 15.6.2 R.
The statement required under LLD 15.6.1 R must include the matters listed in LLD 15.5.6 R, with appropriate amendments.