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Click on the Private Client Area icon to view information relating to your personal underwriting through Alpha.

Visit Market News to read Alpha’s commentary on events and listen to audio files of Alpha meetings and other events on Diary Dates.

Fees and Charges

Alpha, Fidentia and Lloyd's fees are set out here and our brochure includes more detailed information.

  • Annual fee to members £5,400 plus 0.5% of capacity.
  • No profit commission is charged by Alpha to any member.
  • Fidentia Services LLP charge administration fees.
  • Lloyd's charge separate application fees and market services charges for membership administration.

Members' agent's fees must be approved by Lloyd's and are published in the Lloyd's Register of Agent's charges.



No profit commission is charged by Alpha to any member.

For the 2020 year of account Alpha charges a members’ agent’s annual fee of £5,400 plus 0.5% of a member’s overall premium limit (OPL) allocated by Alpha, subject to a maximum fee of £38,500 for members’ underwriting up to £10.0m.

For members writing in excess of £10.0m, a fee of £5,400 plus 0.5% of a member’s OPL allocated by Alpha will apply with no maximum, but this fee may be negotiable.

For members also underwriting through another members’ agent, 0.3% of the OPL allocated by the other agent will be charged as a co-ordinating fee.

Members employed in the Lloyd’s market will be offered a discount of 10% of their annual fee.

A group of members (either through common ownership, family or other groups) may be able to receive a discount on the agency fee if they appoint a single spokesperson for the group.

A winding-up fee equivalent to the highest annual fee payable to Alpha in respect of the last three years of account is payable following death or resignation a member.

A syndicate transaction fee of up to 3% of proceeds may be charged per transaction (which includes a syndicate cash or share offer).

A fee of £5,500 is charged for setting up a new LLP or Nameco. This charge will cover the Fidentia application and set-up fees and any initial financial and tax advice given by Duncan & Toplis.  This fee will not cover Lloyd’s application fees which will be collected by Lloyd’s separately and are detailed below.

Administrative charges are also levied for any subsequent changes to the structure of a vehicle.

For sellers of LLVs a fee equivalent to the highest annual fee payable to Alpha in respect of the last three years of account will be charged to cover the cost of dealing with enquiries and administration costs connected with the sale.


Fidentia currently charges an annual fee of £2,900 plus VAT for the administration of Namecos and LLPs.  This will increase to £3,000 plus VAT from 2020.

A separate charge will be made by Fidentia for obtaining the data from Lloyd’s necessary for the preparation of the LLV’s accounts in accordance with Schedule 3 of the Large and Medium-sized Companies and Group (Accounts and Reports) Regulations 2008.Fidentia obtains this information from Lloyd’s at a discount.The fee for a member underwriting less than £2m is currently approximately £150 including VAT and there is a sliding scale for members writing more than £2m up to a maximum fee of £625 including VAT.

Fidentia will charge a fee of £500 plus VAT for the administrative work carried out by them during any sale process.


The administrative unit of The Corporation of Lloyd’s that handles members’ affairs is called Market Services (MS).  MS charges application fees for a new LLV depending on the structure and complexity of the LLV being set up. A simple structure will incur a charge of £5,250, a complex structure a charge of £10,500 and a LLV with non-related parties will incur a charge of £52,000. There are additional charges if a third party provides FAL.

MS also charges annual fees to both Namecos and LLPs.  These fees cover various regulatory, custodial and tax preparation charges.  For a simple LLV, the charges normally amount to around £4,800 per year to cover custodianship of FAL assets and tax preparation. For LLPs, third party FAL providers and US resident LLV participants, there are additional charges for each underlying participant.  Only the tax charges are subject to VAT.

Lloyd’s charges for the application for approval to make any subsequent changes to the members or participants of a LLP, to the controllers or directors of the Nameco or to third party FAL providers.

Deducted within the calculation of syndicates’ underwriting results are also members’ annual Lloyd’s subscriptions and contributions to the Central Fund, charged at 0.36% and 0.5% of total gross written premium respectively for 2019.

All costs are treated as a business expense and are, therefore, tax deductible (including Fund managers’ fees).