On 20 December 2010 Lloyd’s issued a Market Bulletin setting out its 2011 charges, contributions, subscriptions and payment dates.
The Bulletin does not reveal any major departures from the 2010 charges. New Central Fund contributions and Members’ subscriptions remain at 0.5% of written premium, with the first 50% of the Members’ subscriptions having fallen due on 7 January 2011. The New Central Fund contributions, along with contributions from new corporate members, are payable in April 2011.
Charges in respect of syndicates in run off and the Performance Risk & Management charge are to be charged on the same bases as last year. Capacity Markets (ie auctions) charges for 2011 will be the same as in 2010.
The Bulletin includes details of the finance, information technology, market services, property services, new entrant and overseas operating charges in its appendices.
A copy of the Market Bulletin is available here.