Lloyd's Names are launching a new association to protect the interests of private investors in the 314 year-old market.
The Lloyd's Private Capital Association (LPCA) has sent out 3,000 mail shots throughout Europe, the US and Australia and aims to attract at least 500 members, according to a report in the Daily Telegraph.
The report also said the group is being advised by lawyers SJ Berwin and will hold its first general meeting of members early next month.
LPCA committee member Tim Williams said the group would differ from the other associations such as the Association of Lloyd's Members (ALM) and the High Premium Group because it "sought some technical legal advice on certain positions."
