HI When I read chapter 6 section 2, the overview of prudential requirement on Lloyd's, it said for general insurance company, it required the capital split into ties. I am not sure whether this only applies to the Lloyd's general insurance companies not others? And why? Thanks a lot!
Not sure exactly which section you're referring to, but see Section 3.7 of Chapter 6. Or if you're really keen, have a look through INSPRU on the FSA website, but hopefully that's going beyond what you'd be expected to know. Basically, the rules on capital usage (tiers etc) affect Lloyd's in the same way as they affect GI companies.
