Lloyd's is an insurance and reinsurance marketplace, facilitating transactions between insurance buyers and sellers. Its members operate as syndicates to provide insurance coverage for businesses, organizations, and individuals. The syndicates specialize in different types of risks, and each syndicate determines which risks to insure.
The Association of British Insurers is a trade association that represents over 400 insurance companies, which together transact about 96% of U.K. insurance company business. The association provides members with information and technical and statistical services, and represents their interests to a number of different organisations, including government, Parliament and regulatory bodies.
The International Underwriting Association provides research, information, education and training for its members. It also represents members' interests to governments and regulators worldwide as well as serving as liaison with other financial services bodies. The IUA was formed through the merger of the London International Insurance and Reinsurance Market Association and the Institute of London Underwriters.