Posted 16.06.2022 – LLVs for Sale
Nameco No 046 Ltd
Nameco (No 046) Ltd underwriting through Hampden, is for sale from 7th June.
In conjunction with Fidentia, Alpha will guide you on the most appropriate underwriting vehicle.
This will be either a limited company (NameCo) or a limited liability partnership (LLP). Either can be purchased or created afresh.
The choice of an LLP or a NameCo will depend upon the circumstances of each prospective member.
Key issues that are taken into consideration are:
Broadly speaking, an LLP retains a separate legal identity from its partners (the individuals or companies) but is subject to personal taxation. A NameCo is subject to standard corporation tax rules.
Overseas investors must do so via a UK domiciled vehicle.
A new vehicle has no legacy from previous years of account. However, capacity in the October/November auctions can be illiquid and prices can be difficult to predict, so there is the potential for an unbalanced portfolio. Cash flows from underwriting will be delayed (due to the Lloyd’s three-year accounting methodology). Any documentation for the creation of a new vehicle must be submitted to Lloyd’s in mid-September, prior to commencing underwriting the following January.
Existing LLPs and NameCos are advertised for sale on our website via the link below. Vehicles are valued based upon the previous year’s auction prices and the latest syndicate mid-point forecasts for the open years. No value or liability is attributed to the current underwriting year. Bids may be submitted at a premium or a discount to the valuation. Purchasing an existing vehicle allows for immediate underwriting cash flows, the potential to acquire a balanced portfolio (any unwanted syndicate capacity can be sold or dropped at the next auctions) and a more flexible timescale. For these reasons, this is the most common entry method for Alpha’s new clients.
Find out more about limited liability vehicles (both LLPs and NameCos) currently for sale through Alpha.
Posted 16.06.2022 – LLVs for Sale
Nameco (No 046) Ltd underwriting through Hampden, is for sale from 7th June.
Posted 13.04.2022 – News
Nameco (No. 1086) Ltd underwriting through Hampden, is for sale from 13th April.
Posted 07.04.2022 – News
Nameco (No. 356) Ltd underwriting through Hampden, is for sale from 7th April.
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