Consortium Set-Up GuideFebruary 2024

This guide sets out the process of setting up a registered consortium withXchanging.

Process of setting up a Consortium
Lloyd’s no longer mandates the registration of consortia. This is now satisfied by registeringand obtaining a 9000/4000 number with Xchanging. Please email enquire@Xchanging.com
for registering a consortium.

Xchanging Registration Process
The process below is for consortiums registered and established in the London market.

Once a consortium leader and its followers have negotiated the terms of a consortium, they
are to obtain a 9000/4000 number should they wish for bureau processing. 9000/4000
numbers are a Xchanging method of closing business which assists in bureau processing
and with reporting. However, it is also important to note that not every consortium uses a
9000/4000 number to process, and not every 9000/4000 number belongs to a consortium.
This occurs when 9000/4000 numbers are used to process binding authorities withcoverholders, where bureau processing of premiums and claims directly with participating
syndicates is required as opposed to settlement with the coverholder.

Where a 9000/4000 series number is used, the constitution of the stamp must be registeredwith Xchanging. The consortium manager (lead syndicate) then uses a stamp on risks
underwritten by the consortium. Each individual risk is then submitted separately toXchanging, and Xchanging enters the 9000/4000 series number into its premium processing
system which incorporates the registered market for that consortium, for the relevant year ofaccount, into the signing. The process is set out below.

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February 2024

Reserve
9000/4000
seriesnumber(s)Register
9000/4000
seriesnumber(s)Signing Numberand Date(s) for
fees and profit
commissions

Step 1: Reserving 9000/4000 series number(s)This is necessary when a new consortium or binding authority using a 9000/4000 series
number is being established or where a market (lines, syndicates, or fixed references)changes mid-term. 9000/4000 series numbers are allocated by DXC.

In order for Xchanging to allocate a number, the following are required:•Confirmation that the market on the number will be 100% Lloyd’s or which company
market will be involved;•Confirmation that the market will not span underwriting years;•Details on the number of syndicates participating;•The name of the consortium or coverholder; and•How many 9000/4000 series numbers are required.

Step 2: Registering 9000/4000 series number(s)This step must occur for each year of account in which the 9000/4000 series number(s) areactive.

The Consortium will need to send the following to the Xchanging Service Centre:•Final version of the Consortium Agreement, or the binding authority supporting athird-party arrangement, including signed lines, stamps and references for allparticipating insurers•

Contact details for whom the market should direct enquiries relating to theconsortium•

Noting that signed lines should not exceed five places after the decimal point2

Consortium Set-Up GuideFebruary 2024
Step 3: Signing Number and Date(s) for Fees and Profit Commissions
This is required where the movement of fees and/or profit commissions via Xchanging isrequired and must be done each year of account in which the 9000/4000 series number(s)are active.

For this process, it is necessary to submit the consortium agreement and/or dummy slip toXchanging, accompanied by the required number of LPANs, in order for Xchanging toallocate signing number(s) and date(s).

Stamps using a 9000/4000 series number must comply with the requirements as set out inY4534 (extracted in Appendix 1), also showing the name of consortium, 9000/4000 series
number and anchor symbol. For consortia, the stamp should also incorporate the following
phrase “All underwriters as per LPSO Registered Consortium No 9xxx” below the referencebox.

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