Hampden Agencies said it has received FSA authorisation to facilitate the buying and selling of NameCos at Lloyd's.
Limited liability vehicles, NameCos, have been available since 1994, and all new Names have been obliged to enter as a NameCo since 2003. Hampden acts for over 500 NameCos, it said.
The authorisation means that investors can now purchase an existing NameCo, said Hampden.
It said the change would provide existing NameCo investors with an opportunity to take an early exit by selling their interest rather than waiting the standard three-year accounting period before results are determined.
New investors may find it attractive to buy into a potential profit stream from the fast maturing 2002 account as well as the promising 2003 and 2004 accounts, it said.
“Lloyd's has emerged strongly since the World Trade Centre tragedy,” said Hampden Agencies Limited chief executive Nigel Hanbury.
“Insurance can often be uncorrelated to other investment cycles and investing at Lloyd's is an attractive separate asset class for the wealthier investor.”
Unaligned capital provides 25% of the underwriting capacity of Lloyd's.
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