Corporate Member Services
Callidus is currently one of the few firms providing comprehensive administration services to Direct Corporate Members ("DCP"). Callidus has provided these services ad hoc since 2010 but the portfolio was expanded considerably in 2017 when Leadenhall Insurance Consultants Ltd ceased trading and the majority of its clients transferred to Callidus.
Our services are primarily aimed at the larger DCPs most often backed from within the insurance industry, Private Equity or Venture Capital, with typical levels of FAL > £30m and/or OPL > £50m. We have largely retained our core portfolio of clients and have grown it modestly year on year, ensuring we maintain a high quality of service and without diluting the offering provided to existing clients. We now work with around 30 Direct Corporate Participants, representing over 11% of the Lloyd’s market capacity.
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In addition to managing the routine administration of the Lloyd's timetable and financial transactions for DCPs, our consultants maintain a close working relationship with clients. Through regular information flows and meetings, the team can deal with queries as they arise and explain the complexities of the Lloyd’s requirements in advance so there are no surprises. This two-way interaction also ensures that we are able to advise of any likely developments that may impact for your Corporate Members, allowing us both to plan appropriately.
If you are interested in transferring to Callidus at the next opportunity (the standard members’ agent agreement requires notice to be given by 30th September for the following year) then please contact Mike Glover for a no-obligation, confidential discussion.
Charging Structure
Our charging structure is simple and transparent and does not include any capacity based charges or profit commission. We are happy to agree a fixed fee, dependent on the complexities of your current and proposed Lloyd’s arrangements, and we are confident that this provides genuine value for money. With this in mind, we believe that our services may be of interest to current or proposed DCPs.
Access to Syndicates / Lloyd's Auctions
Callidus does not arrange capacity on syndicates or provide advice in the traditional way that a Lloyd’s Members’ Agent would do. To discuss your requirements, please get in touch with the Corporate Members Team.
Accounting and Tax
The Accounting Services comprise the maintenance of the accounting records, preparation of quarterly management accounts (as an optional extra), preparation of the statutory accounts and corporation tax computations and other Lloyd’s accounting or tax related returns. It also includes the preparation of the year-end audit file and liaison with the auditors and tax advisors, Lloyd’s and Managing Agents. Callidus has many years of experience in this area and currently services clients with complex quota-share arrangements and multiple syndicate participations.
Callidus can provide a competitive fixed fee relative to other providers or in-house – the level of fee is dependent upon the complexity of quota share arrangements, number of syndicate participations and maturity of syndicate portfolio in terms of closed/open years. Please contact David Thorne for more information.
