Dear Lloyd’s Agent,
We hope that you and your colleagues are keeping well.
We are pleased to let you know there is no action required from you this year in regard to the 2025 Lloyd’s Agency Service Level Agreement (SLA) Terms and Conditions.
You may recall that, in 2024, we made changes to the agreement allowing for automatic renewals unless (i) the Parties enter into a superseding agreement or (ii) the Agreement is terminated earlier, in accordance with Clause 7.
Following an internal review this year, we can confirm that no changes are required - the 2024 Terms and Conditions remain in place and the agreement automatically renews for a successive 12 months period.
We can also confirm that the level of the annual franchise fee(s) remains unchanged for 2025 – this will be the 9th year (since 2016) that there has not been any increase in the franchise fee level.
We hope this news is well-received and reflects our ongoing efforts to streamline our processes and enhance efficiency.
Should there be any comments or queries, please do not hesitate to contact us via lloyds-agency-network@lloyds.com
