Section 24 in Insurance Regulatory and Development Authority of India (Lloyd's India) Regulations, 2016
24. Procedure for registration of service company for Lloyd's India.
(a)The Managing Agents of Lloyd's who wish to set-up a service company to underwrite reinsurance at Lloyd's India shall make an application to the Authority through Lloyd's India in the format given at Annexure "2".(b)Indian companies who wish to set-up a service company for Lloyd's India shall make an application to the Authority through Lloyd's India in the format given at Annexure "2".(c)The service company shall indicate the syndicate(s) that it may or may not represent in Lloyd's India.(d)The application for registration of a service company for Lloyd's India shall be accompanied with fee of rupees fifty thousand.
