A new alliance between Lloyd’s of London and the Underwriting Agencies Council (UAC) will see Lloyd’s provide updates on company and market trends to UAC members.

Lloyd’s will now participate in UAC forums and provide members with market information.

Lloyd’s General Representative in Australia, Keith Stern, says the alliance with UAC is “part of Lloyd’s strategic plan to promote and grow the underwriting agency-coverholder model”.

UAC Chairman Damien Coates says the strategic alliance will see all the council’s members benefit from Lloyd’s expertise – not just the 60% of members affiliated with the market.

“It was critical from the UAC board’s perspective that any updates Lloyd’s provides on market trends or commentaries be available to the entire membership base, regardless of whether they are associated with Lloyd’s or not,” he said.

The first UAC member forum incorporating Lloyd’s input will be at held before the UAC/NIBA Brisbane Expo in early July.