Lloyd’s is a market within which syndicates operate providing insurance for various risks. It is not a typical insurance company, but an association of more than 80 syndicates directed by more than 50 managing agents. Syndicates give the so-called insurance capacity, that is, possibility to accept high values of risk. A managing agent manages one or more syndicates. The managing agent handles current operation of syndicates, invests their financial resources, and most of all, employs underwriters, i.e. insurance specialists, who accept or refuse a risk, decide on risks accepted by a syndicate and the conditions. High and specialist risks may be accepted by a number of syndicates.