Reserves in Lloyd's and the London market

Abstract

1.1 Lloyd's and the rest of the London market underwrite a significant part of the world's insurance and are a dominating influence on insurance world-wide. This paper looks at the data which is collected primarily for reserving purposes inside the market—or rather, the paper looks at some new and unusual but very simple ways of looking at that data. Experience is showing that these simple methods are proving to be more powerful aids to underwriters and auditors than was envisaged when they were first invented. They are graphical and hence easy to ‘see’.