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  • Glossary

  • This is a glossary of insurance related terms used by Lloyd's and market participants, these are not AXA or AXA Africa Specialty Risks terms. The following definitions are intended for general guidance. They do not override or qualify any definition that appears in any Lloyd’s byelaw or regulation, in any contract or in any other document.Glossary contents provided by Lloyd's of London.


    1. A
    2. B
    3. C
    4. D
    5. E
    6. F
    7. G
    8. H
    9. I
    10. J
    11. K
    12. L
    13. M
    14. N
    15. O
    16. P
    17. Q
    18. R
    19. S
    20. T
    21. U
    22. V
    23. W
    24. X
    25. Y
    26. Z

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    Ab initio

    Definition

    Latin for from the beginning.

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    Accident year

    Definition

    The calendar or accounting year in which a loss occurs.

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    Accreditation

    Definition

    The process by which a firm may obtain registration as a Lloyd’s broker

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    Accredited Lloyd's broker

    Definition

    A Lloyd’s broker.

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    Active Underwriter

    Definition

    The individual at the underwriting box with principal authority to accept insurance and reinsurance risk on behalf of the members of a syndicate.

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