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Monday July 25, 2011





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Hello my name is Mark Bayley.

Winding up the estate of a Lloyd's name - member of Lloyd's Corporation of London

The note you can download from this site summarises my personal experience of winding up my father’s Lloyd’s interests when he died. I hope it will be useful to others facing a similar challenge. It is intended as a factual description prepared in good faith and it is not intended to provide advice or recommendations for anyone to rely on. I would recommend that any family in a similar situation obtain their own advice from accountants and lawyers who have the capability and experience to deal with the estate of a Lloyd’s name. Being an informed client is, however, a good way to handle professional advice efficiently and control the cost.

My father died in March 2004 and had been a Lloyd’s name for over 20 years. Being an actuary, he was fully aware of the risks of participating in the market and how to handle them. It may be some comfort to those reading this note that the experience of dealing with the estate of a name has not been a horror story.  The overall exposure of the estate to Lloyd’s was capped within nine months after he died and, at the time of completing this note, some seven years after my father’s death, his participation if Lloyd’s has terminated and all remaining funds at Lloyd’s have been returned to his estate.

This note consists of a description of what I felt I needed to know about the Lloyd’s market in order to deal effectively with my father’s estate, followed by a summary of the process of administering the Lloyd’s component of his estate and the unwinding of my father’s participation.

If you would like to contact me in relation to this note, my e-mail address is jm.bayley@btinternet.com

Winding up the estate of a Lloyd's name.pdf


This site was last updated on 25th July 2011