Investors

Hardy delegates the day to day management of its investments and those of Syndicate 382 to professional investment managers. Regular meetings are held with those managers, who are required to operate within an agreed strategy and by reference to certain benchmarks.

Syndicate funds need to be immediately accessible because they are the first port of call for the payment of insurance claims. They are, therefore, held in low-risk, high-liquidity assets. These short-duration portfolios of predominantly cash and fixed-interest securities are managed by Credit Agricole Asset Management.

Funds held by Lloyd's to meet the capital requirements of underwriting are currently a mixture of cash, fixed-interest investments and letters of credit.

Group free funds are those funds not being used directly to support underwriting and some investment risk may be taken here.