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What are Lloyds syndicates?

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What are Lloyds syndicates?

Question is taken from ascot insurance subject

I have been asked this question in a job interview.

Other related questions to my question are:

How does a Lloyds syndicate work?

What is Lloyd's syndicate in a box?

Are Lloyds syndicates legal entities?

What is the difference between a managing agent and a syndicate?

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The correct answer is: A Lloyd's syndicate is formed by one or more members joining together to provide capital and accept insurance risks. Most syndicates write a range of classes of business but many will have areas of specific expertise. Syndicates are, technically, set up on an annual basis.

The title of my answer is The Lloyd's Market

 You can read more about by answer on Lloyd's

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