Find out about the authorisation process if you're one of these types of firm.
7 July 2025: Alongside the Prudential Regulation Authority (PRA) and the Society of Lloyd's, we've agreed changes to streamline the process[2] of regulatory approval for Lloyd’s managing agents. The changes are intended to reduce the time it takes to get authorised.
You must apply to the PRA in order to be authorised as a:
- bank
- insurer (general or life)
- managing agent of a Lloyd’s syndicate
We also need to give our consent before the PRA will authorise you.
Conditions you must meet
In your application, you'll need to show that your firm meets the minimum standards, known as the threshold conditions, of both regulators.
Learn more about the:
Preparing your application
Before submitting your application, please also read our page about how to apply for authorisation[6].
This explains our expectation that firms are ready, willing and organised, along with information about our Consumer Duty, trading names and sensitive business names, and how to avoid delays.
If you need more help
Please contact us on 0300 500 0597. We're open Monday, Tuesday, Wednesday and Friday 9am to 5pm, and Thursday 9.45am to 5pm.
